scorecardresearchJet Airways posts ₹234 crore loss in March quarter

Jet Airways posts 234 crore loss in March quarter

Updated: 27 May 2022, 07:55 AM IST
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Jet Airways posts 234 crore loss in March quarter

Motorists ride past a grounded aircraft of Jet Airways at the Chhatrapati Shivaji Maharaj International Airport in Mumbai on May 22, 2022. (Photo by Indranil MUKHERJEE / AFP)

Motorists ride past a grounded aircraft of Jet Airways at the Chhatrapati Shivaji Maharaj International Airport in Mumbai on May 22, 2022. (Photo by Indranil MUKHERJEE / AFP)

(PTI) Jet Airways, which remains grounded for over two years, on Thursday reported a standalone net loss of 233.63 crore for the three months ended March.

The full service carrier had a standalone net loss of 107.01 crore in the year-ago period, according to a regulatory filing.

Total income stood at 11.63 crore in the latest March quarter compared to 17.73 crore in the year-ago period.

Currently, the airline is being managed by a monitoring committee.

"... the monitoring committee is not in a position to provide the consolidated financial results, as the subsidiaries of the company are separate legal entities, also currently non-operational and the team is facing huge difficulty in obtaining relevant data from the said subsidiaries," the filing said.

Jalan-Kalrock consortium won the bid for the airline under the insolvency resolution process. The carrier is in the process of being revived and last week, its air operator certificate was revalidated by aviation regulator DGCA.

The airline was shuttered in April 2019 after being bogged down by financial woes. 

First Published: 27 May 2022, 07:55 AM IST