Domestic private airline Jet Airways, which has been operating in India since 1993, incurred a Rs 245.63 crore (Rs 2.46 billion) loss in 2002-03.

The airline's losses, disclosed to the Naresh Chandra committee on civil aviation, have mounted substantially from Rs 13.38 crore (Rs 133.8 million) in 2001-02.

Jet Airways' loss is close to that of the state-owned Indian Airlines. The latter had estimated loss of Rs 245.50 crore (Rs 2.45 billion) in 2002-03 compared with Rs 246.75 crore (Rs 2.47 billion) in 2002-03.

Comparing losses
	Losses (in Rs crore)
Airlines	2001-02	2002-03
Jet Airways	13.38	245.63
Indian Airlines	246.75	*245.50
*estimated

Jet's income increased 11.03 per cent to Rs 2,942.12 crore (Rs 29.42 billion) in 2002-03 from Rs 2,649.76 crore (Rs 26.50 billion) in 2001-02. Its expenditure, however, climbed 19.69 per cent to Rs 3,187.75 crore (Rs 31.88 billion) in 2002-03 from Rs 2,663.15 crore (Rs 26.63 billion) in 2001-02.

Jet did not respond to a questionnaire faxed on November 13 seeking comments on its losses and income.

Jet's market share increased from 39.7 per cent in 1999 to 48.7 per cent in 2002, while that of Indian Airlines dropped from 55.8 per cent in 1999 to 42.5 per cent in 2002, according to official figures. The figures are unchanged in 2003.

During 2002-03, Jet's operating revenue increased 13.83 per cent to Rs 2,875.68 crore (Rs 28.76 billion) from Rs 2,526.28 crore (Rs 25.26 billion) in 2001-02. Its non-operating revenue fell 46.19 per cent to Rs 66.43 crore.

The company's operating expenses increased 17.46 per cent to Rs 2,410.53 crore (Rs 24.10 billion) from Rs 2,052.06 crore (Rs 20.52 billion) in 2001-02, while employee costs went up 14.57 per cent to Rs 263.44 crore (Rs 2.63 billion) from Rs 229.99 crore (Rs 2.30 billion) in 2001-02.

In a recent press conference here, Jet Airways Chief Operating Officer Peter Luethi said business had not been good till now with marginally lower traffic than last year.