Jet Airways shares slump after record quarterly loss

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SummaryShares in India's Jet Airways slumped 4.7% after it reported its worst quarterly loss on record.

Shares in India's Jet Airways slumped 4.7 percent in pre-open trading after the company reported its worst quarterly loss on record on Wednesday, squeezed by high fuel costs and a weaker local currency.

Jet Airways, which has lost money in the past six years, said on Wednesday it was awaiting approvals from some regulators for the Etihad deal, without specifying.

The agreement, struck to help Jet break out of a pattern of losses in India's airline business, won the Indian cabinet's approval earlier this month.

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