Jet Airways to announce Q1 results on 27 August
Jet Airways’s management had previously deferred consideration of its Q1 results as the management, it said, needed more time to finalise accounts
New Delhi: The board of directors of Jet Airways (India) Ltd will consider it’s June quarter results on 27 August after having deferred doing it once, the company informed the stock exchanges on Friday. Jet Airways said in its communication to exchanges that the trading window for dealing in the securities of the company will remain closed till Wednesday, 29 August.
Jet’s management had previously deferred consideration of the quarterly results stating it 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 ticket prices without forgoing market share.
At 10.42am today, Jet Airways shares up 1.65% to ₹ 305.40 on the BSE while the benchmark Sensex was higher by 0.77% at 37,954.33 points.
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