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Jet Airways shares slump after record quarterly loss

Jet Airways shares slump after record quarterly loss

(Reuters) – Shares in Jet Airways (India) Ltd(JET.NS), part-owned by Abu Dhabi’s Etihad, fell as much as 10.1 percent in early morning trade after the carrier posted a record quarterly loss partly as a result of higher jet fuel expenses and a one-time charge on a unit.

Jet, the No. 2 Indian carrier by domestic market share, said on Tuesday that standalone net loss was 21.54 billion rupees ($366.5 million) for its fiscal fourth-quarter to end-March, compared with a loss of 4.96 billion rupees a year earlier.

Jet shares were trading down 6.4 percent 251.45 rupees as of 9:23 a.m.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

Source : http://in.reuters.com/article/2014/05/28/markets-india-shares-idINKBN0E807Z20140528

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