Jet Airways’ numbers will be secondary as the stock has gone from Rs 800 to Rs 220 in the last 12 months because there is no clarity on the fund infusion. So all eyes will be on whether any details come through on fundraising, stake sale etc.
On the numbers front, there is going to be a weak quarter for the aviation space. From passenger growth itself, there has been a weakness. This time around as well passenger growth has gone down by 5 percent for Jet Airways.
The airline is likely to report losses for the fourth consecutive quarter. However, the losses could be lower than what we saw last quarter.
Non-fuel cost per seat kilometre is expected to be elevated due to higher forex losses on account of a weak rupee.