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

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 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.