Beleaguered Jet Airways says will announce June quarter results soon
Jet Airways (India) Ltd's board will meet on August 27 to approve financial results for the quarter ended June 30, said the beleaguered carrier on Friday.
After deferring its quarterly result earlier this month, Jet Airways has now decided to announce the same on August 27.
"Jet Airways (India) Ltd's board will meet on August 27 to approve financial results for the quarter ended June 30," said the beleaguered carrier on Friday.
India's biggest full-service airline deferred its quarterly results which was scheduled to be announced on August 9, sending its shares to a three-year low.
Jet said on August 3 that it would be able to cut costs and keep flying, despite reports that it had warned staff it was running out of cash.
The air carrier has been facing fund crunch due to rising jet fuel cost, decreasing airfares and high maintenance cost to name a few.
Earlier, the Naresh Goyal-promoted Jet Airways had denied reports of differences with it auditors BSR & Co, a KPMG affiliate and DTS & Associates, saying that they continue to be the statutory auditors.
Some media reports had earlier suggested that Jet Airways is in talks to raise $350-400 million by selling stakes to private equity firms.
Jet Airways, whose current market capitalisation is around Rs 3,139 crore, may also issue new shares to raise equity capital.