Although Jet Airways’ stock took a beating on its record loss, India’s second biggest carrier said it would try and return to profit in 18 months.
Jet posted a loss of Rs 2,153.57 crore for the January-March period, up more than four times from the year-ago period.
Annual losses surged more than fivefold to Rs 4,129.76 crore.
According to analysts’ estimates, Jet’s consolidated net worth fell to a negative Rs 4,174.86 crore, from Rs 1,827.71 crore in the previous year.
Full report here Business Insider