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Jet Airways Q4 net loss widens

New Delhi, May 24: Jet Airways, which recently agreed to sell a 24 percent stake to Gulf carrier Etihad, reported a wider quarterly loss, hurt by higher costs.Jet said its net loss was 4.96 billion

PTI [ Updated: May 24, 2013 17:53 IST ]
jet airways q4 net loss widens
jet airways q4 net loss widens

New Delhi, May 24: Jet Airways, which recently agreed to sell a 24 percent stake to Gulf carrier Etihad, reported a wider quarterly loss, hurt by higher costs.




Jet said its net loss was 4.96 billion rupees ($89 million)for its fiscal fourth-quarter ended March, compared with a net loss of 2.98 billion rupees reported a year earlier.

Etihad's about $370 million investment in Jet is the first by an overseas operator in an Indian airline since ownership rules were relaxed and provides Jet with a deep-pocketed global partner as well as cash to retire debt.

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