Jet Airways Reports Losses, and More Losses to Come

Jet Airways is feeling the pain: India's largest private carrier announced a loss for the last quarter and said that there will be more losses to come in the face of slowing traffic and soaring fuel costs. Fuel now makes up 45% (!) of airlines' operating cost - a jump of 90% from last year. Jet has grown their international business to more than 40% of their total flying, but fuel costs are hurting profitability on those routes, while downward fare pressures are contributing to losses on domestic routes.