Jet Airways to see short term increase in debt level in next few quarters

Jet Airways posted Rs 10.40 billion loss in the fourth quarter FY 18 owing to high costs and a decline in other income

Jet Airways on Thursday said the company expects an increase in debt level in next one to two quarters as the high cost is adversely impacting its cash flow. The airline had gross debt of Rs 84.24 billion at the end of March end.

“For a quarter or two, our debt level will go up. There will be a short-term blip,” said Amit Agarwal, airline's deputy chief executive officer in post result conference call on Thursday.

Over the last three years, the airline has lowered debt by around Rs 30 billion and efforts are underway to reduce it further, Agarwal