Jet Airways had to do a lot of firefighting in the last few days — first after it said its financial situation was precarious, and later when it deferred announcing its quarterly performance numbers.
Much of the airline’s woes are symptomatic of the aviation sector.
The deferment of Jet Airways’ June quarter results on August 9 to an unspecified date came after the company’s annual general meeting of its shareholders.
In a filing to the Bombay Stock Exchange, the airline said the board of directors decided not to review the unaudited financial performance for the June quarter.
"The audit committee did not recommend financial results to the board for its approval, pending closure of certain matters," the airline said.
The deferment of its results sent the company’s stocks plunging on the BSE on Friday. Shares of the carrier, which had earlier warned of stringent measures to tide over its financial constraints in the face of rising fuel costs and stiff competition from rivals, fell 8.39 per cent on the BSE on Friday to close at Rs 276.40.
14/08/18 Daily O
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Much of the airline’s woes are symptomatic of the aviation sector.
The deferment of Jet Airways’ June quarter results on August 9 to an unspecified date came after the company’s annual general meeting of its shareholders.
In a filing to the Bombay Stock Exchange, the airline said the board of directors decided not to review the unaudited financial performance for the June quarter.
"The audit committee did not recommend financial results to the board for its approval, pending closure of certain matters," the airline said.
The deferment of its results sent the company’s stocks plunging on the BSE on Friday. Shares of the carrier, which had earlier warned of stringent measures to tide over its financial constraints in the face of rising fuel costs and stiff competition from rivals, fell 8.39 per cent on the BSE on Friday to close at Rs 276.40.
14/08/18 Daily O
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