Wednesday, November 21, 2018

Jet Airways in talks with many investors to secure funds, says CEO Vinay Dube

New Delhi: Jet Airways on Tuesday said it was in active discussion with various investors to secure sustainable financing. "We are in active discussions with various investors to secure sustainable financing to navigate through the current headwinds and create long-term growth. There is interest in our strong brand and confidence in our business turnaround efforts," Jet Airways CEO Vinay Dube said in a letter to its passengers.

There had been round of buzz that Tata Sons, the holding company of Tata Group was carrying out a due-diligence on Jet Airways. Tata Sons in its reaction has said, "We would like to clarify that any such discussions have been preliminary and no proposal has been made." Jet in the Q2FY19' has posted a net loss of Rs 1,261 crore owing as the tough operating environment for the aviation industry continues to impact.

He, however, told its customers that the airline will navigate through these challenging times and work towards our long term growth and profitability. Dube said airline has reviewed its network and was deploying aircraft on more profitable, productive and economically efficient routes.
20/111/18 PTI/Business Today