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We are regular in all payment obligations: Jet Airways


PTI Last Updated at 11-08-2018 19:50:14 IST India

Aug 11 (PTI) Jet Airways today said it is

"regular" in all payment obligations, including to the banks

and the statutory dues.

"We are regular in all our payment obligations to all

our banks and statutory dues including PF obligations. Our

account with all the banks as on date is "Standard", Jet

Airways said in a statement.

The statement comes amid the airline deferring the

announcement of its June quarter earnings without giving any

specific reason.

The Naresh Goyal-promoted airline, in which Gulf

carrier Etihad holds 24 per cent stake, is grappling with

financial woes and its share price has also taken a beating in

recent weeks.

"We have continuously been working on various cost and

revenue initiatives to mitigate the significant increase in

fuel rates and depreciation in rupee, as there has not been

any corresponding increase in fares," the airline said in the

statement.

The board of directors of Jet Airways, on August 9,

deferred the matter of consideration of the unaudited

financial results for the June quarter.

Sources had said that regulator Sebi was also looking

into the airline delaying June quarter results after the

carrier's audit committee expressed reservations.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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