BUSINESS & FINANCE
We are regular in all payment obligations: Jet Airways
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.
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