Jet Airways’ Q1 loss rises

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Jet Airways’ first-quarter operating loss rose by 9% to Rs1.17 billion ($18.8 million) as higher fuel and aircraft lease rentals drove up its expenses.

The airline’s operating revenue increased from Rs40 billion to Rs47 billion compared with the same period last year. This was driven by strong increases across its domestic and international operations, but was offset by 17% rise in expenses to Rs48 billion.

Despite the rise in operating loss, Jet’s net loss reduced from Rs3.6 billion to Rs2.2 billion, aided by a fall in finance costs and higher contributions from lessors towards aircraft maintenance expenses.