Rising fuel prices and stiff competition have taken a combined toll on Jet Airways'
profits. The private carrier made a net loss of Rs 107.5 crore for the quarter-ended March 2011, as against a profit of Rs 4.62 crore for the same period last year.
In its press release, Jet said, "The dramatic rise in crude oil prices severely impacted the quarter in question and also the month of April."
However, it added,