Shares in Jet Airways plunged after the company said that it had made record losses. The stock was down 6.64 per cent in trade and was last quoting at Rs 250.80 on the National Stock Exchange.
The company late on Tuesday reported a record loss of Rs 2,154 crore in the fourth quarter ended March 31, 2014. The company was impacted by higher operating expenditure and exceptional costs.
Jet Airways had reported a net loss of Rs 496 crore during the same quarter a year ago.
"We need to take stringent measures to ensure our success in this challenging and competitive aviation industry. There can be no short-term solutions. The changes required will take time to implement," Jet Airways' Chairman Naresh Goyal said.
The aviation industry has not been doing too well with just one player that is reported to be profitable. Higher aviation turbine fuel and high operating costs have affected the airline industry.
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google