Wednesday, November 14, 2018

Cash-strapped Jet Airways Says in Talks With Many Parties For Stake Sale, Funding

Mumbai: Cash-strapped Jet Airways Tuesday said it is at various stages of discussions with multiple "interested parties" for capital infusion and partial stake sale in its loyalty programme Jet Privilege.

The Naresh Goyal-run airline is looking for investors to tide over the liquidity crisis, which has resulted in delayed payments to some vendors and salaries to a section of its over 16,000 employees.
"We are working towards various liquidity initiates to bridge the gap. We have engaged the services of experts to help in the turnaround plan and enhance liquidity," deputy chief executive and chief financial officer Amit Agarwal told analysts in a post-earnings conference call on Tuesday.
These measures include sale of aircraft, monetization of its stake in Jet Privilege and fresh equity infusion, the official added.
"We are actively pursuing both the transactions and are currently at various stages of discussions with multiple interested parties for both part stake sale in Jet Privilege and fresh inclusion of equity into the airline," Agarwal said.
13/11/18 PTI/News18