The company had registered a net of Rs 118.23 crore in the corresponding period last fiscal.

"The quarter's results have been adversely impacted due to high ATF prices and a steep decline in the value of rupee against the US dollar. The airlines have been progressively increasing the fare to pass on the rising input cost, including the cost of ATF," Jet Airways said in a filing to the BSE.

The company's loss, however, has narrowed from Rs 713.6 crore in the second quarter this fiscal.

Furthermore, total income of the company increased to Rs 4,165.88 crore during the December quarter from Rs 3,513.93 crore for the quarter ended December 31, 2010.

"The management is actively pursuing various options to improve the operating results and cash flows through sale and leaseback of aircraft, route rationalisation and cost control measures. The company continues to explore options to raise

finances to meet its various short-term and long-term obligations, including financial support to its subsidiary – Jet Lite (India) Ltd," it said.

During the nine months to December 31, 2011, the airline reported a net loss of Rs 937.98 crore, against a net profit of Rs 134.15 crore in the year-ago period.

The statement said that ATF prices and rupee depreciation would continue to be a cause of concern for the short term.

Though Q4 passenger bookings show encouraging trends, it is expected to reflect some seasonality.

"We continue to see a steady increase in our corporate and business class bookings over the last few weeks, given what has been happening in the industry and with competition.

We do not see any major slowdown in our international bookings into or out of Europe and North America," the statement said.

The airline expects the Indian domestic market to continue growing at 12 per cent to 15 per cent in the short to medium term. The capacity induction in the market has slowed down giving considerable scope to airlines to push for higher yields and the airline saw some semblance of this from November 2011, the statement said.

The airline said its international operations continue to achieve seat factor of around 80 per cent even in a troubled financial environment in the West.

The airline also hopes to complete the transition from Jetlite to Jet Konnect during this quarter, which will enable it to consolidate its market leadership position with two strong brands. Its fund-raising initiatives are well on track and it has realised monies from the Bandra-Kurla Complex deal, as well as through sale and lease back of engines in Q3, the statement said.

"We expect to complete the sale and lease back of some of our B-737 aircraft during the fourth quarter which will not only help us pay off high cost rupee debt, but also in paying off some working capital loans from the surplus cash that we will generate," the statement said.

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