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Jet Airways second-quarter profit slumps 91 percent
December 7, 2017 / 1:47 PM / 8 days ago

Jet Airways second-quarter profit slumps 91 percent

(Reuters) - Jet Airways (India) Ltd, the country’s second-largest airline, reported a 91 percent slump in quarterly profit on Thursday, hurt by higher fuel expenses.

A Jet Airways passenger aircraft takes off from the airport in Ahmedabad, India, August 12, 2013. REUTERS/Amit Dave/Files

Net profit for the quarter ended Sept. 30 came in at 496.3 million rupees ($7.69 million), compared with a profit of 5.49 billion rupees in the year-ago quarter. bit.ly/2ACEclV

Quarterly total expenses rose 9.2 percent to 57.09 billion rupees, with aircraft fuel expenses rising about 17 percent.

($1 = 64.5700 Indian rupees)

Reporting By Arnab Paul and Vishal Sridhar in Bengaluru; Editing by Subhranshu Sahu

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