Jet Airways gains on debt restructuring plans

The airline gains 3% to Rs 264 after Jet Chairman Naresh Goyal said the airline will return to profitability by 2017

SI Reporter Mumbai
Last Updated : Jul 23 2014 | 2:33 PM IST
Jet Airways gained 3% to Rs 264 after the country's No. 2 airline by market share said it will look at selling planes and restructuring its debts to end the losses for years.

"We are looking at a lot of consolidation (of our fleet)," Jet's Chairman Naresh Goyal said at a press event in New Delhi on Wednesday. Goyal said the carrier is talking to its bankers, without giving details of the discussions.

Jet said on Wednesday its plans would return it to profitability in 2017 fiscal, without disclosing details of how the plans would be effective. The carrier said it would also expand its international operations, which are currently profitable, to 63% of its business by 2016 from 45% today.

Nearly 47 lakh shares changed hands on BSE and NSE till 1400 hrs.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 23 2014 | 2:01 PM IST

Next Story