Jet Airways, SpiceJet in rough weather

Jet Airways (India) Ltd will be under pressure next week as the company swung back to net loss, compared with a profit a year ago. After trading hours on Friday, the company announced its July-September quarter financial performance. For the quarter, it posted a loss of about Rs 713 crore, compared with a profit of Rs 1.24 crore reported a year ago, due to high fuel prices. SpiceJet also reported a loss higher than the Street expectation. However any move by the Government to allow foreign direct investments in aviation could trigger some buying activity.