Saturday, August 11, 2018

India's Jet Airways says meeting all payment obligations to lenders

Mumbai: Indian carrier Jet Airways Ltd sought to reassure investors on Saturday, saying it is meeting its payment obligations to lenders and other dues, such as staff commitments.
India’s biggest-full service airline issued the statement a day after its shares fell to a three-year low following an announcement that it had deferred its quarterly earnings report.
Jet, which is part-owned by Etihad Airways, was due to report quarterly earnings on Thursday but said in stock exchange filings that its audit committee had not signed off on them “pending closure of certain matters”.
“Our account with all the banks as on date is “Standard”,” Jet Airways said in a statement on Saturday. It said it had not been placed in any special mention accounts by the banks, referring to the name given to accounts for borrowers that are behind in their loan servicing payments.
11/08/18 Reuters