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Jet Airways stocks hit 3-yr low, prompts urgent recapitalisation calls

Jet Airways needs to repay about Rs 30 billion ($436 million) of loans and bonds over the next three years with a third of it due by the end of next year, Reuters data shows

Reuters  |  New Delhi/Bengaluru 

India's Jet Airways shares hit a three-year low on Friday after it deferred its earnings, prompting analysts to say it urgently needed to recapitalise and restructure. The airline was due to report quarterly earnings on Thursday but instead told the stock exchange that its audit committee had not signed off on them "pending closure of certain matters". Jet Airways told staff earlier this month it was running out of money, a source had told Reuters, but it has denied this and said it is confident of cutting costs and keeping its planes flying. India is the ...

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First Published: Fri, August 10 2018. 19:55 IST