COUNTRY'S LEADING private air carrier, Jet Airways is still plaguing with the demon of recession, although companies across the world are coming gradually out of the blue. Its second quarter result has shown a loss of Rs 406 crore, ending September 2009.

Last year in the same period, its loss stood 384.5 crore, while the Jet-JetLite combine saw loss declining from 657.6 crore in the second quarter to Rs 532 crore, declares companies financial statements for the second quarter, July to September. Jetlite on the other hand had shown a Q-2 loss slump to Rs 126. 1 crore in comparison to Rs 273 in the same corresponding period last year.

The financial results also cited some reasons for the poor growth of Jet Airways in the second quarter of the financial year 2009-2010. It has said that the five day strike in the second business quarter, between September 5 and 12 alone resulted in the loss of Rs 80 crore. During that period Airline has to cancel approximately 1300 domestic and 200 international flights.