India's Jet Airways shows $73m quarterly loss
MUMBAI (AFP) - Indian carrier Jet Airways, which is set to sell a minority stake to Abu Dhabi-based Etihad, on Thursday posted its second straight quarterly loss, hit by lower income and high fuel prices.
The carrier reported a consolidated net loss of 3.55 billion rupees (S$73 million) in the three months to June, against a profit of 247 million rupees in the same period last year.
Revenues fell 12.3 per cent to 40.64 billion rupees, from a year earlier, the airline said in a statement.
"The sharp devaluation of the rupee versus the dollar, the steep rise in airport charges and high fuel prices have impacted the earnings," Jet's acting chief executive Captain Hameed Ali said in the statement.