INSUBCONTINENT EXCLUSIVE:
is in active discussions 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
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 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 Airways posted a net loss of Rs 1,261 crore in the second quarter of the current fiscal year, owing to the continuous impact of
challenging times and work towards our long term growth and profitability".The airline has reviewed its network and is deploying aircraft on
to build and accelerate revenue momentum even as we continue to review and improve our network," he said in the letter."Jet Airways will
take delivery of another 6 new Boeing 737 MAX aircraft this fiscal and will leverage the same for better cost efficiency," he added."We have
launched new services such as the Mumbai - Manchester non-stop flight and will soon be inaugurating our first daily, direct service from
Pune to Singapore, as well as adding services and frequencies on select routes such as Bangkok, Doha, Dammam, Dubai,Kathmandu and Singapore
from our hubs," he further said.
