Jet Airways’ FY19 loss widens to Rs 5,535 cr as a consequence of surge in expenses
The full carrier carrier, which is undergoing an insolvency resolution direction of, has recieved two resolution plans that are beneath analysis
Issues
Jet Airways
In 2018-19, the airline’s total earnings declined to Rs 23,314.11 crore from Rs 23,958.37 crore in FY18, in step with a regulatory filing
Jet Airways made a pre-tax lack of Rs 5,535 crore in FY19 as against a shortage of Rs 767 crore in FY18, mainly as a consequence of surge in expenses.
The full carrier carrier, which is undergoing an insolvency resolution direction of, has recieved two resolution plans that are beneath analysis. In 2018-19, the airline’s total earnings declined to Rs 23,314.11 crore from Rs 23,958.37 crore in FY18, in step with a regulatory filing.
Whole expenses surged to Rs 28,141.61 crore in FY19, mainly on legend of elevated gasoline expenses.
After stopping operations on April 18, the airline went into Company Insolvency Resolution Route of (CIRP) in June 2019.
The financial statements had been signed by Jet Airways Resolution Expert Ashish Chhawchharia. Shares of the airline dropped in relation to 5 per cent to its lowest procuring and selling permissible limit for the day at Rs 29.10 apiece on the BSE.
First Printed: Thu, July 30 2020. 02: 18 IST