Jet Airways Reports Loss of ₹2,841 In 2019-20


Jet Airways, which has been grounded for nearly two years, on Monday reported a standalone loss of INRs 2,841.45 crore for the year ended March 2020. During the 2019-20 financial year, the airline had a complete income of INR 354.2 crore, the company said in a filing to the BSE.

In 2018-19, the airline had posted a loss of INR 5,535.75 crore. The once-storied full-service airline, which shuttered operations on April 18, 2019, is undergoing an insolvency resolution process.

As per the filing, the resolution professional – Ashish Chhawchharia – and employees who were a part of the asset preservation team have made all practical and reasonable efforts from time to time to collect details to arrange the financial statements.

A statement in the filing reads, “In the absence of the Chief financial officer, Company Secretary and other officials who were primarily accountable for book closure process and financial reporting, the Resolution Professional and also the employees who were a part of Asset Preservation Team (APT) have made all practical and reasonable efforts from time to time to collect details to organize these financial statements, despite various challenges and complicated circumstances, have tried to place in very best efforts to supply the data required by the auditors to carry out the audit of the financial statements of the company.”


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