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Home / Companies / Company Results /  Jet Airways Q1 update: Net loss at 390.1 cr, revenue down 83%
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Jet Airways on Thursday reported a standalone net loss of 390.1 crore for the three months ended June (Q1FY23) as compared to 129 crore in the year-ago period.

The full service carrier's revenue from operations declined 83% to 12.53 crore for the quarter under review. Jet Airways had posted a revenue of 73.83 crore in the same quarter last year, according to a regulatory filing.

Total income stood at 13.10 crore in the latest June quarter compared to 75.01 crore in the year-ago period.

Jet Airways had recently started the process for hiring pilots for Airbus' A320 aircraft as well as Boeing's 737NG and 737Max planes.

The airline -- which received air operator certificate from aviation regulator DGCA on May 20 -- is yet to place an order for aircraft with either European planemaker Airbus or American aerospace company Boeing.

Currently, the airline has just one operational aircraft -- which is a B737NG -- in its fleet.

The airline intends to recommence commercial operations in the current quarter ending September.

Financial distress forced Jet Airways, which flew for more than two decades, to suspend operations on April 17, 2019 and a consortium of lenders, led by the State Bank of India (SBI), filed an insolvency petition in June 2019 to recover outstanding dues worth over 8,000 crore.

In October 2020, the airline's Committee of Creditors (CoC) approved the resolution plan submitted by the consortium of the UK's Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan.

In June 2021, the resolution plan was approved by the National Company Law Tribunal.

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