Jet Airways loss widens to Rs 5,536 crore in 2018-19

Jet Airways, which is undergoing insolvency resolution process, has reported widening of loss to Rs 5,535.75 crore in the year ended March 2019 as a surge in expenses took a toll.

The full-service carrier, which shuttered operations in April last year, had a loss of Rs 766.13 crore. These figures are for standalone comprehensive losses.

In 2018-19, the airline’s total income declined to Rs 23,314.11 crore from Rs 23,958.37 crore in the year-ago fiscal, according to a regulatory filing.

Pushed by higher fuel costs, the total expenses surged to Rs 28,141.61 crore in 2018-19.

After stopping operations on April 18, the airline went into Corporate Insolvency Resolution Process (CIRP) in June 2019.