Jet says it was working on cost and revenue initiatives to cushion the sharp rise in fuel costs and the depreciation in the Indian rupee
The beleaguered airline is seeking $150 million in debt from UAE-based carrier Etihad, which owns a 24% stake in Jet, to tide over its financial crisis
On Thursday, in a late evening statement, the airline had said it was deferring the announcement of its June quarter results
Shares of the full service carrier slumped over 12 per cent since July 2 and in intra-day trading on Friday, it touched a 52-week low
Jet Airways needs to repay about Rs 30 billion ($436 million) of loans and bonds over the next three years with a third of it due by the end of next year, Reuters data shows
The stock has fallen by nearly 67 per cent so far this year
Naresh Goyal said Rs 6.36 bn loss in last fiscal was due to an increase in cost beyond the control of the company
Shares of the carrier, part-owned by Etihad Airways PJSC, plunged as much as 15 per cent Friday in Mumbai after the company postponed announcing its first-quarter earnings
Audit Committee did not recommend the said financial results to the board for its approval
Stock of Jet Airways has slumped over 12% since July 2 and in intra-day trading on Thursday, it touched a 52-week low of Rs 286.95 apiece
As part of cost-cutting measures, the Naresh Goyal-promoted full service carrier had asked its employees, including pilots and engineers, to take steep pay cuts
TruJet operates 32 daily flights and plans to increase it to 48 over the next few months. It also plans to add bases in Guwahati and Ahmedabad
Jet Airways' never-ending financial troubles are spooking the industry as the wider implications sink in
An official of the aviation regulator DGCA had said that the pilots aborted the take off after they were informed about a 'barrier' on the runway
The airline reached out to its frequent flyers assuring them of continuity of operations
As part of cost reduction efforts, the full service carrier has asked its employees, including pilots, to take steep pay cuts, sources had said
Airline has run into financial turbulence and is losing Rs 50-100 million every day
Sources said the full service carrier has also told the employees that the compulsory one-year notice period for captains would be done away with
The airline said it was "confident about its operations" continuing beyond 60 days
The stock dipped 9% to Rs 302 on the BSE in intra-day deal, trading close to its 52-week low of Rs 297 touched on July 19, 2018.