India's Jet Airways to cut flights on some routes after further losses

Debt-laden Indian carrier Jet Airways will cut flights on less profitable routes and add capacity to more lucrative markets, as part of its effort to lower costs and boost revenues as it struggles to stay aloft. Jet, India’s biggest full-service carrier posted its third straight quarterly loss on Monday, hurt by higher fuel expenses and a weaker rupee. “The airline has embarked on a comprehensive review ... The measures will include rationalisation of operations on select, uneconomic routes,” Jet said, adding that it will redeploy planes to more productive domestic and international sectors. The review is expected to help deliver a more efficient and economically viable network, with a focus on profitability rather than market share, Jet, which is part-owned by Etihad Airways, said. “With our clearly defined focus on profitability, we are in the midst of turning the ship around,” said Jet’s CEO, Vinay Dube. Jet posted a loss of 12.97b rupees (US$178m) for the quarter ended Sept. 30, compared with a 496.3m rupee profit a year earlier. Fuel costs rose 58.6% to 24.2b rupees and the airline recorded a foreign exchange loss of 4.17b rupees, up from 730m rupees a year ago. Revenue from operations climbed 9.5%. Jet had a negative net worth as on Sept. 30, with current liabilities exceeding current assets, the airline said.<br/>