• Saturday, August 20, 2022

Business

India’s Jet Airways to Discuss Turnaround Plans at Board Meeting Next Week

Crisis Hit India’s Jet Airways to Discuss Turnaround at Board Meeting Next Week.

By: Radhakrishna N S

Crisis-hit Indian private carrier Jet Airways is to hold discussions over cost reduction initiatives and turnaround plans when its board of directors meet on Monday (27), according to a statement from the airline on Wednesday (22). The airline had told its employees this month it was running out of cash, according to media reports. However, the company had rejected the news and said that it was confident of reducing cost and to keep its planes flying. Depreciation of Indian rupee, rising fuel prices, and fare wars with other airlines pushed the airline into the current cash crunch in the growing aviation…

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