Debt-ridden Jet airways net loss widened to Rs 5,535.75 crore in the year ended March 2019, as compared to the loss of Rs 766.13 crore a year earlier as surge in expenses took a toll.
The full service carrier’s total income was marginally down from previous year’s Rs 23,958 crore to Rs 23,314 crore.
Pushed by higher fuel costs, the total expenses surged to Rs 28,141.61 crore in 2018-19.
The airline had shut its operations on April 18 and went into Corporate Insolvency Resolution Process (CIRP) in June 2019.
This is a rare instance when a firm announces its results more than a year late. The data was issued past midnight on Tuesday (July 29).
The financial statements have been signed by Jet Airways Resolution Professional Ashish Chhawchharia.
In a statement, that is part of the regulatory filing, Chhawchharia said he was not in a position to provide the consolidated financial results, as the subsidiaries of the company are separate legal entities, also currently non-operational and that he was facing huge difficulty in obtaining relevant data from the said subsidiaries.
All the directors, CEO, CFO and company secretary had resigned from their respective positions in the company prior to commencement of the CIRP.
Shares of Jet Airways declined nearly 5 per cent to Rs 29.10 apiece in early trade on the BSE.