May 23, 2018 / 3:05 PM / in a year

Jet Airways posts fourth-quarter loss due to higher fuel costs

A Jet Airways plane is parked as other moves to runway at the Chhatrapati Shivaji International airport in Mumbai, February 14, 2018. REUTERS/Danish Siddiqui/Files

(Reuters) - Jet Airways (India) Ltd, the country’s second-largest airline by market share, posted a loss in the fourth quarter due to higher fuel expenses.

The company posted a loss of 10.36 billion rupees ($151.50 million) in the three months ended March 31, compared with a profit of 6.02 billion rupees a year earlier, Jet Airways said on Wednesday.

Revenue from operations rose about nine percent to 59.25 billion rupees, while aircraft fuel expenses surged 31 percent to 20.63 billion rupees.

($1 = 68.3850 Indian rupees)

Reporting by Tanvi Mehta and Aby Jose Koilparambil in Bengaluru; Editing by Arun Koyyur

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