India’s Jet Airways has posted a heavy second-quarter net loss of almost Rs9 billion ($140 million) for the three months to 30 September.
The carrier generated nearly Rs42 billion in revenues for the quarter, although this was only a fractional increase on the same period last year.
In contrast its expenditure soared by around 20% to more than Rs48 billion.
Jet Airways’ net loss at the half-year point was 16 times greater than during 2012, at more than Rs12 billion.
The airline, in which Etihad Airways is taking a share, says the air transport industry in India is experiencing “increasing cost challenges”, including depreciation of the rupee against the US dollar, fuel prices and airport charges.
While Jet Group recorded a 12% rise in passenger numbers the passenger yield fell by 11%.