Jet Airways shares slump after all-time high profit plunge

Written by Reuters | Mumbai | Updated: May 28 2014, 15:55pm hrs
Jet AirwaysJet Airways said on Tuesday that standalone net loss was 21.54 billion rupees ($366.5 million). (Reuters)
Shares in Jet Airways (India) Ltd , part-owned by Abu Dhabi's Etihad Airways, fell 10 percent on Wednesday in pre-open trading 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.

Jet Airways, 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.

($1 = 59.0250 Indian Rupees)