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Jet Airways slumps after record quarterly loss

Jet, which has lost money in the past six years, said on Wednesday it was awaiting approvals from some regulators for the Etihad deal, without specifying.

Reuters| Updated: Oct 24, 2013, 10:12 AM IST

Mumabi: Shares in Jet Airways slumped as much as 6.4 percent after the company reported its worst quarterly loss on record on Wednesday, squeezed by high fuel costs and a weaker local currency.

Jet, which has lost money in the past six years, said on Wednesday it was awaiting approvals from some regulators for the Etihad deal, without specifying.

The agreement, struck to help Jet break out of a pattern of losses in India`s airline business, won the cabinet`s approval earlier this month.

Jet shares were trading down 5 percent to 329 rupees at 9.24 am.