INSUBCONTINENT EXCLUSIVE:
Jet Airways, which is partly owned by Etihad Airways, has been facing financial troubles.Shares of full-service carrier Jet Airways Ltd fell
as much as 14.5 per cent in early trade on Friday after the company deferred its first-quarter results, reported news agency Reuters
The carrier, on Thursday said that its board has deferred the consideration of unedited financial results for the first quarter of the
although it said earlier this month it remains confident of being able to cut costs and keep flying despite reports it had warned staff it
was running out of cash.According to a Reuters report, the airline had told pilots last week that it had enough cash left to keep operating
for just 60 days and would need to put in place cost-cutting measures including pay cuts
The airline has asked pilots to take a 15 percent pay cut for two years, a proposal they have refused.Meanwhile, in the early trade today,
the domestic stock markets started on a negative note
Retreating from its lifetime high, the SP BSE Sensex dropped 98.32 points to trade at 37,926.05
Banking, Receding from its record level, the Nifty50 index also slipped 7.35 points to trade at 11,463.35 in early trade
