On Thursday, Jet Airways shares closed at Rs 300, up 6.05% from the previous close. Photo: Reuters
New Delhi: The board of directors of Jet Airways (India) Ltd. will consider its June quarter results on 27 August after having deferred once, the company informed stock exchanges on Friday. Jet Airways said in its communication to exchanges that trading window for dealing in the securities of the company will remain closed till Wednesday, 29 August 2018.
Jet’s management had previously deferred consideration of the quarterly results as management needed more time to finalise accounts. The company’s audit committee did not recommend financial results to the board for its approval, pending closure of certain matters, Jet had informed exchanges on 9 August when the Board met last.
Jet Airways later told the exchanges that the term of its audit committee chairman Srinivasan Vishvanathan, an independent director on the board, expired at the conclusion of the board meeting.
Jet Airways is struggling with high cost of fuel as well as interest and employee costs at a time the airline industry is not able to increase flight ticket prices without forgoing market share due to competition in the market.