Jet Airways posts Q1 net loss at Rs 1,323 crore on rise in fuel prices

Crisis hit Jet Airways on Monday reported a standalone net loss of Rs 1,323 crore for the quarter ended June 30. The carrier had posted a profit of Rs 53.50 crore in the year ago period. Total income of the company, however, rose to Rs 6,010 crore from Rs 5,648 crore in the year ago quarter. The company blamed macroeconomic factors led by an increase in brent fuel price, a depreciating rupee and the resulting mismatch between high fuel prices and low fares primarily for poor performance in the quarter.