Jet suffers 2nd turbulent quarter, loses Rs355 crore
10 Aug 2013 4:13 AM IST
Jet Airways on Thursday reported a net loss of Rs 355.38 crore for the first quarter ended 30 June, 2013, compared to a profit of Rs 24.7 crore in the same period a year-ago.
This is Jet's second consecutive quarterly loss.Total income from operations declined to Rs 4,005.15 crore in the June quarter from Rs 4,587.27 crore in the year ago period, Jet Airways said in a filing to the BSE.
The Etihad-Jet deal has got a conditional approval from the Foreign Investment Promotion Board (FIPB) and it needs approval of the Union Cabinet.
Etihad Airways, which is seeking regulatory approval for its planned Rs 2,058 crore investment for 24 per cent equity stake in Jet Airways, said on Wednesday that it is awaiting a final approval from the Indian authorities for the deal which could enhance its global reach.
This is Jet's second consecutive quarterly loss.Total income from operations declined to Rs 4,005.15 crore in the June quarter from Rs 4,587.27 crore in the year ago period, Jet Airways said in a filing to the BSE.
The Etihad-Jet deal has got a conditional approval from the Foreign Investment Promotion Board (FIPB) and it needs approval of the Union Cabinet.
Etihad Airways, which is seeking regulatory approval for its planned Rs 2,058 crore investment for 24 per cent equity stake in Jet Airways, said on Wednesday that it is awaiting a final approval from the Indian authorities for the deal which could enhance its global reach.
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