India's Jet Airways slumps into second quarter net loss

12 Nov, 2011

India's biggest private airline Jet Airways on Friday swung to a quarterly net loss from a profit a year earlier, hurt by rising fuel costs and a lean travel season. The company recorded a net loss of 7.13 billion rupees ($145 million) in the second quarter which ended September, down from a profit of 124 million rupees a year earlier. Sales rose 11 percent to 31.22 billion rupees in the quarter, the airline said in a statement to the Bombay Stock Exchange.

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