Wednesday, August 29, 2018

No difference of opinion with auditors, says Jet Airways CEO

Reiterating there was no difference of opinion between Jet Airways and its auditors, CEO Vinay Dube clarified that the first quarter results were delayed to decide on cost reduction plans.

The company is looking at capital infusion and leveraging its loyalty programme, both of which are in a “working stage,” Dube further told analysts during a conference call on August 28.

The company, which announced the results a day earlier, was originally slated to share its first quarter financial performance on August 9.

The airline suffered second consecutive quarterly loss. It reported a net loss of Rs 1,323 crore for the first quarter of the financial year, pegged down by higher fuels costs and forex losses. Total income marginally improved to Rs 6,066 crore from Rs 5,953 crore a year ago.