Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From May 27, 2022

Jet Airways Posts Net Loss Of Rs 234 Crore In March Quarter

Jet Airways Posts Net Loss Of Rs 234 Crore In March Quarter
Currently, the airline is being managed by a monitoring committee.

Jet Airways, which remains grounded for over two years, on Thursday reported a standalone net loss of Rs 233.63 crore for the three months ended March.

The full service carrier had a standalone net loss of Rs 107.01 crore in the year-ago period, according to a regulatory filing.

Total income stood at Rs 11.63 crore in the latest March quarter compared to Rs 17.73 crore in the year-ago period.

Currently, the airline is being managed by a monitoring committee.

"... the monitoring committee is not in a position to provide the consolidated financial results, as the subsidiaries of the company are separate legal entities, also currently non-operational and the team is facing huge difficulty in obtaining relevant data from the said subsidiaries," the filing said.

Jalan-Kalrock consortium won the bid for the airline under the insolvency resolution process. The carrier is in the process of being revived and last week, its air operator certificate was revalidated by aviation regulator DGCA.

The airline was shuttered in April 2019 after being bogged down by financial woes.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search