Monday, August 13, 2018

Jet Airways financial woes: ‘Evaluating options to raise funds on priority’

New Delhi: Asserting that all its accounts with lenders are standard and there was no overdue in any of the accounts, Mumbai-based Jet Airways said that it was evaluating various funding options to meet its liquidity requirements on priority. However, it dismissed the reports of a stake sale or any move to monetise its investment in the frequent flier programme as speculative.

“There have been no delays in discharging any of our loan obligations to any of the lenders. In fact, our bankers have issued a certificate to this extent at periodical intervals. The company’s account has been consistently standard over the last several years,” a Jet Airways spokesperson said.

Notwithstanding the company’s claims about its accounts being ‘standard’, the country’s aviation safety regulator is set to begin an inspection of the airline’s functioning from August 27 given the recent developments pertaining to Jet Airways’ financial woes. A senior official at the Directorate General of Civil Aviation suggested that financial stress of an airline could percolate to various other aspects of operations, including maintenance of safety standards. “The airline is aware of the proposed inspection and is prepared for it. At Jet Airways, safety is of paramount importance,” the Mumbai-based airline said in a statement.
13/08/18 Indian Express
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