Budget carrier JetLite incurred a loss of Rs 22 crore for the third quarter ended December, taking the total loss of the first nine months of the current fiscal higher than that of its parent airline Jet Airways.
Budget carrier JetLite incurred a loss of Rs 22 crore for the third quarter ended December, taking the total loss of the first nine months of the current fiscal higher than that of its parent airline Jet Airways.
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According to reliable sources, JetLite has a total loss of Rs 498.9 crore for the first three quarters of the ongoing financial year, while that of Jet in the same period stands at Rs 455.3 crore.
The no-frills carrier had reported a loss of Rs 134.8 crore in the first quarter, Rs 273 crore loss in the second and Rs 22 crore loss in the third quarter.
When asked how the losses in the three quarters do not add up to Rs 498.9 crore, the company spokesperson said: "There was deferred tax credit of Rs 69 crore in the first quarter, which was adjusted subsequently. The total loss is Rs 498.9 crore".
As for the latest quarter, JetLite recorded revenues of Rs 474.1 crore, up 10.3 per cent from the corresponding quarter of the previous financial year.
The carrier had reported total sales of Rs 429.9 crore in the corresponding quarter. It had a passenger load factor of 67.8 per cent for the third quarter, down from 71.6 per cent in the year-ago period.
However, JetLite could bring down its loss in October-December to a fourth of the Rs 86 crore loss in Q3 of the last financial year.
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