Jet Airways is facing questions from the Securities and Exchange Board of India for delaying its first quarter results. Aneesh Phadnis looks at the problems plaguing the airline.
The airline was making regular profits and then made Rs 10.4 billion losses in Q4 FY18. What went wrong? Jet Airways made a net profit of Rs 12.12 billion in FY16, its first annual profit in eight years. A large part of the gains over the last several quarters were driven by non-operational items such as profit from sale and lease of planes, and gains from sale of real estate and a surplus from the ...
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