Jet Airways seeks to reassure investors with cost-cutting plan
Updated : August 29, 2018 06:27 AM IST
Jet, part-owned by Etihad Airways, has been facing financial difficulties but has said it is confident it can slash costs and keep flying, dismissing reports it had told staff it was running out of cash.
India is the world's fastest-growing aviation market, but rising fuel prices, a weaker rupee and price competition has pulled down airline profitability. InterGlobe Aviation Ltd, operator of the country's leading carrier IndiGo, reported a 97 percent plunge in profit last month.
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