New Delhi: India's airlines are struggling to turn a profit on a boom in passenger numbers.
Shares in Jet Airways, one of the country's biggest carriers, plunged 7% in Mumbai on Friday following media reports that the company barely has enough money to make it through the next two months.
The stock has lost more than 60% of its value since the start of this year, even as it spends billions to try and compete in the world's fastest-growing aviation market.
In a statement sent to CNNMoney, Jet Airways CEO Vinay Dube slammed the media reports as "incorrect" and "malicious." Dube said the airline was implementing measures to boost revenues and cut costs, and that the company was in talks with its employees.
03/08/18 Rishi Iyengar/CNNMoney/NBC-2.com
To Read the News in full at Source, Click the Headline
Shares in Jet Airways, one of the country's biggest carriers, plunged 7% in Mumbai on Friday following media reports that the company barely has enough money to make it through the next two months.
The stock has lost more than 60% of its value since the start of this year, even as it spends billions to try and compete in the world's fastest-growing aviation market.
In a statement sent to CNNMoney, Jet Airways CEO Vinay Dube slammed the media reports as "incorrect" and "malicious." Dube said the airline was implementing measures to boost revenues and cut costs, and that the company was in talks with its employees.
03/08/18 Rishi Iyengar/CNNMoney/NBC-2.com
0 comments:
Post a Comment