Jet Airways says to generate cash to meet obligations
Jet Airways Ltd said today it was confident of generating enough cash to meet its obligations and has plans to raise funds partly through the sale and lease back of aircraft.Updated: Nov 22, 2011 18:53 IST
Jet Airways Ltd said on Tuesday it was confident of generating enough cash to meet its obligations and has plans to raise funds partly through the sale and lease back of aircraft.
Earlier on Tuesday, auditors of Jet, India's biggest airline, had said the company needs to raise funds or generate cash flows in the future to meets its obligations, including financial support to its loss-making subsidiary JetLite.
"As we are entering the peak season, the yields are on the rise and together with the cost reduction programme that we have put in place, our operational cash flows will improve significantly," Jet Airways said in a statement to Reuters.
First Published: Nov 22, 2011 18:50 IST