Jet Airways cuts annual loss by more than 60%

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Jet Airways has cut its annual pre-tax loss by 61%, to 4.9 billion rupees ($87.1 million).

The Indian airline's annual revenue for the year ended March 31 rose 14% to 169 billion rupees.

In the fourth quarter, the pre-tax loss was 5 billion rupees, versus 2.9 billion the year before, as revenues narrowed from 40 billion to 39 billion.