Jet Airways posts first-quarter loss as fuel costs bite

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Jet Airways posts first-quarter loss as fuel costs bite

Jet Airways Ltd, India’s second-largest airline by market share, posted a first-quarter loss, hurt by higher fuel expenses.

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The airlines posted a loss of 13.23 billion rupees ($188.76 million)in the three months ended June 30, compared with a profit of 535 million rupees a year earlier.

Aircraft fuel expenses for the quarter surged 53 percent to 23.32 billion rupees.