Mumbai: After posting a massive loss in the March uarter, private carrier Jet Airways today said it may see a rise in debt for the next one or two quarters.
"The (March) quarter had negative cash flow generation. May be for a quarter or two you would see the debt going up. There could be a short-term blip in terms of rise in the debt," Jet Airways chief financial officer and deputy chief executive officer Amit Agarwal said during a post-earnings analysts call.
He said the airline has already reduced its debt by Rs 3,000 crore over the last two-and-a-half year, adding that the overall strategy of reducing debt would continue on an ongoing basis.
As on March 31, 2018, the airline's gross debt stood at Rs 8,424 crore, of which Rs 2,054 crore was aircraft related, Agarwal said.
With Jet Airways incurring a huge fourth-quarter loss of Rs 1,036 crore on high oil prices and weaker rupee, its auditors have said the "appropriateness of assumption of going concern" for the company depends on its ability to raise necessary funds, among other factors.
24/05/18 PTI/Economic Times
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"The (March) quarter had negative cash flow generation. May be for a quarter or two you would see the debt going up. There could be a short-term blip in terms of rise in the debt," Jet Airways chief financial officer and deputy chief executive officer Amit Agarwal said during a post-earnings analysts call.
He said the airline has already reduced its debt by Rs 3,000 crore over the last two-and-a-half year, adding that the overall strategy of reducing debt would continue on an ongoing basis.
As on March 31, 2018, the airline's gross debt stood at Rs 8,424 crore, of which Rs 2,054 crore was aircraft related, Agarwal said.
With Jet Airways incurring a huge fourth-quarter loss of Rs 1,036 crore on high oil prices and weaker rupee, its auditors have said the "appropriateness of assumption of going concern" for the company depends on its ability to raise necessary funds, among other factors.
24/05/18 PTI/Economic Times
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