The Jet Airways

Jet Airways

Jet Airways examines costs reduction and turn-around planning Sitting will also take into account the postponed June quarterly results, the air company said in a recent request. Mumbai: The Jet Airways (India) Ltd. executives will meet on August 27 to review a restructuring proposal for the struggling company. Jet Airways' Management Committee will also consider ways to reduce expenses at the June quarterly session, which will take into account the postponed June quarterly results, Jet Airways said in an application for approval on Wednesday.

It will help partially address investors' concern about the 24% stake in the Abu Dhabi-based Etihad Airways. On August 9, Jet Airways delayed the publication of the results for the three month period until June 30. As a result, he had stated that the chair of his auditing commission had told the supervisory council at his session that date that management needed more elapsed working hours to close the books.

On August 3, Mr. Jones said that Jet Airways had again turned to a banker to assist in the sale of a holding in the airline. Speaking on August 20, Mr. Jones said Jet Airways intends to divest a share in the Jet Privilege program to procure funds for its credit repayments and operating needs.

As a result, in the June quarterly period the carriers reported either a deficit or a decline in earnings. InterGlobe Aviation Ltd, which operates IndiGo, the biggest local air operator in terms of revenue shares, reported a 97% drop in earnings last year. SpiceJet Ltd., the low-cost flight operator, crashed into an unanticipated first quarterly deficit in the first 14 quarterly periods from .06 to June 30 following a net income of .1 crime in the previous year.

Losses resulted from a one-off charge to provide for the repayment of Marans, the airline's former shareholders, higher jet fuel charges and losses in exchange rates. According to the analysis, Jet Airways will also post a higher cost burden for the June quarterly period.

In the past fiscal year, the Mumbai-based carrier reduced its net indebtedness to .104.18 crisis, from .191.38 crisis, according to Bloomberg figures.

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