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Aviation

Jet Airways set to raise Rs 3,500 crore via stake sale, save Rs 2,000 crore in costs: report

Updated : September 28, 2018 08:35 AM IST

The airline has told lenders it will take shave off costs by as much as Rs 2,000 crore in the next two years, if the rupee and crude oil prices support: report
The airline spoke on how the worsening macroeconomic conditions were beyond the company’s control and the profitability targets are likely to be missed. 
If the airline fails to infuse funds through the stake sale in JetPrivilege, it will cover up via equity infusion by March 31.
Jet Airways set to raise Rs 3,500 crore via stake sale, save Rs 2,000 crore in costs: report
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