Jet Airways Q2 net falls 91 per cent to Rs 49.36 crore

India's second biggest airline by domestic market share posted a net profit of Rs 46.01 crore compared to Rs 517 crore a year earlier.

Shares of Jet Airways on Friday slumped more than 4 per cent in morning trade after the private carrier reported a 91 per cent plunge in standalone net profit for the September quarter.

Income on sale and leaseback of aircraft stood at Rs 190.22 crore in September quarter 2016, the airline said.

Other income, which is generally the non-aeronautical revenue, dropped sharply by 59 percent to Rs 131.57 crore in quarter gone by, from Rs 319.58 crore in the year-ago period, according to the filing. The company also announced the appointment of Kevin Knight on its board, the second nominee from Etihad Airways, thus bolstering the presence of the Abu Dhabi based strategic partner that owns about 25% in Jet.

Ex-cop gets 20 years in prison for fatal shooting
Slager, looking haggard in a gray-and-white prison jumpsuit with his wrists shackled to his waist, gave his own testimony. Defense lawyers worked out a plea agreement to settle all of the charges Slager faced in state and federal court.

Fuel costs grew 17% to Rs 1525.66 crore, the firm added.

The airline also saw its revenue from codeshare partners increasing by 8 percent over the year-ago quarter while it managed to shave off total debt in the books by Rs 194 crore.

In the same period, India's premier worldwide airline also forged an industry-first partnership with Airbnb - the world's leading community-driven hospitality company allowing it to offer a wide spectrum of rapidly growing, global hospitality choices to guests from India and establishing a deeper connect with the new-age Indian traveller, who is increasingly seeking unique and interesting experiences while travelling in India as overseas.

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