Jet Airways’ FY19 loss widens to Rs 5,535 cr due to surge in expenses

The full service carrier, which is undergoing an insolvency resolution process, has recieved two resolution plans that are under evaluation

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Jet Airways

In 2018-19, the airline's total income declined to Rs 23,314.11 crore from Rs 23,958.37 crore in FY18, according to a regulatory filing

In 2018-19, the airline’s total income declined to Rs 23,314.11 crore from Rs 23,958.37 crore in FY18, according to a regulatory filing

Jet Airways made a pre-tax loss of Rs 5,535 crore in FY19 as against a loss of Rs 767 crore in FY18, mainly due to surge in expenses.

The full service carrier, which is undergoing an insolvency resolution process, has recieved two resolution plans that are under evaluation. In 2018-19, the airline’s total income declined to Rs 23,314.11 crore from Rs 23,958.37 crore in FY18, according to a regulatory filing.

Total expenses surged to Rs 28,141.61 crore in FY19, mainly on account of higher fuel costs.

After stopping operations on April 18, the airline went into Corporate Insolvency Resolution Process (CIRP) in June 2019.

The financial statements have been signed by Jet Airways Resolution Professional Ashish Chhawchharia. Shares of the airline dropped nearly 5 per cent to its lowest trading permissible limit for the day at Rs 29.10 apiece on the BSE.

First Published: Thu, July 30 2020. 02:18 IST