Jet Airways slumps 7 percent after record quarterly loss

MUMBAI (Reuters) - Shares in Jet Airways (India) Ltd, part-owned by Abu Dhabi's Etihad, are trading around 7 percent lower on Wednesday after the carrier posted a record quarterly loss partly as a result of higher jet fuel expenses and a one-time charge on a unit.

(Also read, Jet Airways says taking tough measures after record loss, click http://in.reuters.com/article/2014/05/27/jet-airways-results-idINKBN0E71EY20140527)

Jet, the No. 2 Indian carrier by domestic market share, said on Tuesday that standalone net loss was 21.54 billion rupees ($366.5 million) for its fiscal fourth-quarter to end-March, compared with a loss of 4.96 billion rupees a year earlier.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)