Why such huge losses: Jet Airways clarifies

A day after it announced its worst-ever quarterly loss of Rs 998 crore (consolidated figure for Q2 FY14), the top management of India's second-largest airline, Jet Airways, said one-time aircraft maintenance costs and extraneous factors completely outside its control - such as rupee depreciation, increased airport and navigation charges and high aviation jet fuel prices - made their losses mount.
"On the face of it a loss of Rs 891 crore  looks big," said Ravishankar G, CFO, Jet Airways in an earnings call with analysts on Thursday. (He did not quote the consolidated loss figure.) But he explained the various factors beyond the airline's control that added up to hurt it badly. He said that Rs 699 crore out of the total loss posted by the airline was due to the factors Jet could not do anything about.

Jet-Etihad deal fiasco: What it means for Jet

Mumbai: The secrecy behind the Jet-Etihad deal and the way it was announced within moments of seat enhancement agreement signed between the two countries had the stink of controversy. And you do not need a canine’s ability to smell a controversy in this deal.