Jet Airways, the Indian carrier that has been grounded since April 2019, has posted a net loss ofRs28.4 billion ($391 million) for the 2019-20 fiscal year ended 31 March 2020.
This compares to a loss of Rs55.4 billion in the same period during FY2018-19.
The carrier also reported a total income of Rs3.5 billion for FY2019-20, down from Rs233 billion in the prior fiscal year.
Jets expenses dropped to Rs24.7 billion in FY2019-20, from Rs281 billion in FY2018-19.
Its cash and cash equivalents as of 31 March 2020 were Rs1.08 billion, down from Rs2.04 billion as of 31 March 2019.
Jet Airwayssuspended operations on 18 April due to a critical liquidity position and was approved to enter a corporate insolvency resolution process (CIRP) on 2…
Read the full article at: https://www.flightglobal.com/airlines/grounded-jet-airways-reports-391-million-fy2019-20-loss/142434.article
