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Jet Airways reported a net loss of ₹1,040 crore in the fourth quarter ended March 31 against a profit of ₹583 crore due to increase in fuel prices and rupee depreciation.
Jet Airways also booked a one-time maintenance charge of ₹253 crore.
Passenger load
“Despite these challenges, in Q4 FY18 Jet Airways increased its capacity by over 10 per cent, increased passenger load factor by 3.9 per cent points, reported a positive year-on-year passenger and cargo RASK, reduced net debt (excluding debt taken for BKC property) by ₹359 crore and achieved a year-on-year reduction in non-fuel CASK of 1.1 per cent.
“Each of these metrics showcase Jet’s commitment to its transformation plan, despite financial pressure arising from the lag between the increase in crude oil prices and airfares.
“Over the last two years, airfares have remained flat, while fuel prices have doubled,” the company said in a statement.
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