Private carrier Jet Airways on Friday said it registered a net loss of Rs 101.22 crore for the quarter ended December 31, 2011, in sharp contrast to a net profit of Rs 118.23 crore in the same quarter last fiscal, due to higher ATF costs and rupee depreciation.
“High fuel prices together with the depreciating Indian rupee versus US dollar have pulled down the operating results to an extent. However, yield improvements due to seasonality and the narrowing gap between demand-supply imbalances have helped the airlines to post operating profits,” Jet Airways (India) Ltd CEO Nikos Kardassis said. He said the airline would continue to remain competitive through innovative marketing initiatives, an increase in ancillary revenues, an enduring focus on cost-cutting measures.
Jet Airways Q3 loss at Rs 101.22 crore - Indian Express