Jet Airways posts Rs 306 cr loss in Q2

New Delhi: Jet Airways, which remains grounded for more than two years now, recorded a standalone net loss of Rs 305.76 crore in the three months ended September.

In the latest quarter under review, the company had a total income of Rs 45.01 crore, according to a regulatory filing on Tuesday.

The airline, which has undergone insolvency resolution process, had a profit of Rs 152.41 crore in the 2020 September quarter on a total income of Rs 172.61 crore, the filing showed.

The once-storied full service carrier recognised a loss of Rs 244.98 crore in relation to the sale of an aircraft, which was attached by the Dutch administrator, in the latest September quarter.

The defunct airline is being managed by a monitoring committee, which is exercising the powers of the board of directors, as per the terms of the approved insolvency resolution plan.

Bogged down by financial woes, Jet Airways suspended operations on April 18, 2019.

A consortium of Murari Lal Jalan and Florian Fritsch has emerged as the winning bidder for Jet Airways and its plan was approved by the National Company Law Tribunal (NCLT) in June this year.