INSUBCONTINENT EXCLUSIVE:
Jet Airways would also consider cost-reduction measures at August 27 board meeting.Cash-strapped carrier Jet Airways will discuss ways to
cut costs and turn its business around when its board of directors meets on Monday, the airline said on Wednesday.Jet had told staff this
month it was running out of money, a source had told Reuters, but the airline had denied this and said it was confident of cutting costs and
keeping planes flying.Airline profits in the world's fastest-growing aviation market are taking a hit due to rising fuel prices, a weaker
rupee and an airfare war.Jet had this month deferred its first-quarter financial results by a few weeks after its audit committee declined
to sign off on them, "pending closure of certain matters"
The results will also be discussed at Monday's board meeting, Jet said.Reuters reported this week that private equity firm TPG Capital was
considering investing in Jet but is not close to finalising a deal, a plan that could help the airline raise money.Separately, Jet has said
it has not received any communication from the corporate affairs ministry after media reports said the airline was being probed for
TheIndianSubcontinent staff and is published from a syndicated feed.)
