Jet Airways (India) has dipped nearly 4% at Rs 334 in otherwise strong market after reporting a highest ever quarterly loss of Rs 891 crore for the quarter ended September 30, 2013 (Q2) due to higher fuel prices, a sluggish market, increased expenses, and a weak rupee. The company had loss of Rs 100 crore in the same period last year.
During the quarter under review, the company’s total income from operations remain flat at Rs 4,195 crore against Rs 4,138 crore in the corresponding quarter of previous fiscal.
Meanwhile, the airline said the third-quarter (October-December) results would reflect high seasonality, which will help improve yields. Domestic fare revision, made at the fag end of the second quarter, would start showing positive effect in the rest of the year. The forward booking trends for the quarter are quite encouraging.
The company also said the surplus aircraft would be leased or sold in the coming months and investment from Abu Dhabi-based Etihad would help in repayment of high-cost debt.
The stock opened at Rs 330 and hit a low of Rs 324 in early morning deals on NSE. A combined over one million shares have changed hands on the counter till 1010 hours.
During the quarter under review, the company’s total income from operations remain flat at Rs 4,195 crore against Rs 4,138 crore in the corresponding quarter of previous fiscal.
Meanwhile, the airline said the third-quarter (October-December) results would reflect high seasonality, which will help improve yields. Domestic fare revision, made at the fag end of the second quarter, would start showing positive effect in the rest of the year. The forward booking trends for the quarter are quite encouraging.
The company also said the surplus aircraft would be leased or sold in the coming months and investment from Abu Dhabi-based Etihad would help in repayment of high-cost debt.
The stock opened at Rs 330 and hit a low of Rs 324 in early morning deals on NSE. A combined over one million shares have changed hands on the counter till 1010 hours.
