Jet Airways reported a net loss of more than Rs 355 crore for the three months ended June 30, as the carrier came under intensified pressure from depreciation in rupee and higher costs.
The carrier announced that it suffered a net loss of Rs 355.38 crore in the April-June quarter, as against a profit of Rs 24.7 crore in the corresponding quarter of last year.
Income from operations slipped 13 per cent year-on-year to Rs 3,779 crore. In the quarter under review, the carrier's seat load factor slipped to 73.5 per cent, from 79.3 per cent in the year-ago period.
Hameed Ali, acting chief executive Jet Airways, "The devaluation of rupee versus dollar, steep increase in landing and navigation charges at key metros and high fuel prices has impacted the industry's profitability."
Analysts are of the view that discounts offered by the carrier during the first three months of the current financial year would have further affected the carrier's overall profitability.
At 57 per cent, international operations continued to account for majority of the company's revenues. The carrier expressed hope that the proposed equity infusion by Etihad Airways would transform the landscape of its business.
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