Jet Airways net loss soars 8-fold to a record Rs 891 cr in second quarter

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Jet Airways blamed a steep fall in the rupee, slowdown in the domestic aviation market and rise in fuel costs for a sharp widening in standalone net loss. Reuters Jet Airways blamed a steep fall in the rupee, slowdown in the domestic aviation market and rise in fuel costs for a sharp widening in standalone net loss. Reuters
SummaryJet Airways Group operates more than 550 flights a day with its two brands.

the airline has managed to remain competitive through series of planned steps, such as discontinuing loss-making routes and stringent cost control.

"We believe and strive for customer satisfaction by investing into effective marketing strategies and proactive initiatives resulting in enhancing our guest experience," he said.

On the outlook, Toomey said the third quarter will reflect high seasonality, which will help improve yields. Domestic fare revision which was made at the fag end of Q2 will start showing positive effect in the balance part of the year and that booking trends for the quarter are quite encouraging."

However, he warned the rupee fall and oil prices continue to be a cause of concern.

Toomey also said the airline will be retiring a portion of its high cost debt, which stood at over USD 2 billion, through equity infusion and cheaper debt.

Shares of the company closed at Rs 346.05 apiece, down 0.43 per cent.

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