LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

MoCA will be watching developments at Jet Airways, says Choubey

The Ministry of Civil Aviation today said it is watching the developments at Jet Airways, which has delayed the announcement of June quarter results

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
MoCA will be watching developments at Jet Airways, says Choubey
Full service carrier Jet Airways is grappling with financial woes and its share price has also taken a beating in recent weeks. Image source: PTI
Written By: PTI
Updated: Sat, Aug 11, 2018
10:38 am
PTI
RELATED NEWS
Kalrock Capital and Murari Lal Jalan plan for Jet Airways submitted to NCLT Kalrock Capital and Murari Lal Jalan plan for Jet Airways submitted to NCLT
Jet Airways may fly again in just months Jet Airways may fly again in just months
Jet Airways share price soars, hits upper circuit for 8th consecutive day, gives 261% return in 7 months Jet Airways share price soars, hits upper circuit for 8th consecutive day, gives 261% return in 7 months
Kalrock Capital-Murari Lal Jalan consortium wins Jet Airways bidding Kalrock Capital-Murari Lal Jalan consortium wins Jet Airways bidding
Stocks in Focus on August 25: LIC Housing Finance, Allcargo Logistics, Axis Bank to Phoenix Mills; here are expected newsmakers of the day Stocks in Focus on August 25: LIC Housing Finance, Allcargo Logistics, Axis Bank to Phoenix Mills; here are expected newsmakers of the day

The Ministry of Civil Aviation today said it is watching the developments at Jet Airways, which has delayed the announcement of June quarter results. The full service carrier is grappling with financial woes and its share price has also taken a beating in recent weeks. "We will be watching the developments," Civil Aviation Secretary R N Choubey said and added that the ministry has no intention of doing any financial audit of the airline.

He was responding to a query about Jet Airways facing financial problems and also delaying announcement of quarterly results. Choubey said the airline has "neither approached the ministry nor are they (Jet Airways) bound to do so". "But when airlines are in difficulty, they approach us," he noted.
Asked about reports of retrenchment at the airline, Choubey said "If Jet has not told us that they are going to retrench why should we be worried.

"Airlines are not bound to inform us when they retrench but when airlines get into trouble they normally come to us". Addressing shareholders at the company's annual general meeting on Thursday, Jet Airways Founder Chairman Naresh Goyal said he felt "guilty and embarrassed" as a lot of shareholders have lost their money, as the airline's shares plummeted on financial woes.

Shares of the full service carrier slumped over 12 per cent since July 2 and in intra-day trading today, it touched a 52-week low of Rs 286.95 apiece. Speaking at the event here, organised by industry body Assocham, SpiceJet Chairman Ajay Singh said that the rise in prices of aviation turbine fuel and depreciating rupee were the two big factors impacting financial of Indian carriers.

"The rupee depreciation is significant. Rupee went from Rs 65 to Rs 69, so that hit is significant. All this has added to pressure on airlines," Singh said. Choubey said the ministry along with International Air Transport Association (IATA) and Airports Authority of India (AAI) would organise celebrations to mark double-digit growth in the aviation sector. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Jet Airways
RELATED NEWS
Kalrock Capital and Murari Lal Jalan plan for Jet Airways submitted to NCLT Kalrock Capital and Murari Lal Jalan plan for Jet Airways submitted to NCLT
Jet Airways may fly again in just months Jet Airways may fly again in just months
Jet Airways share price soars, hits upper circuit for 8th consecutive day, gives 261% return in 7 months Jet Airways share price soars, hits upper circuit for 8th consecutive day, gives 261% return in 7 months
Kalrock Capital-Murari Lal Jalan consortium wins Jet Airways bidding Kalrock Capital-Murari Lal Jalan consortium wins Jet Airways bidding
Stocks in Focus on August 25: LIC Housing Finance, Allcargo Logistics, Axis Bank to Phoenix Mills; here are expected newsmakers of the day Stocks in Focus on August 25: LIC Housing Finance, Allcargo Logistics, Axis Bank to Phoenix Mills; here are expected newsmakers of the day

LATEST NEWS

LIVE: Gujarat Local Body Elections Results 2021: BJP wins 2085 seats, Congress gets 602 - Check latest trends, seats details, news updates here

Heranba Industries IPO: Allotment to be out today I Retail Investors anxious and nervous

Jubilant Foodworks share price: ICICI Securities maintains Add rating with target price of Rs 2995

Gold price outlook: Government debt has turned out to be a more attractive bet for investors of late

7th Pay Commission today: Central government employees alert! Latest news - Your premium is part of this allowance, benefit

Kriti Sanon gets nostalgic as ''Luka Chuppi'' turns 2

Arnold Schwarzenegger's son Patrick on taking advice from superstar dad

Good news for Vi users! Vodafone Idea subscribers to get health insurance benefit on mobile recharges

Twitter user? Alert! Your account will be blocked if you do this | Big changes

ITR e-verification: Do this to e-verify your Income Tax return using Aadhaar card

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved