Spice-Jet’s financial problems have spooked its employees. The latest instance was when they didn’t get their tax declaration forms.
Jet’s debt which was Rs 10,576 crore in end March reduced to Rs 9,807 crore in end June, its vice president finance N Ravichandran said in the airline’s AGM.
The extension has automatically pushed back the date of announcing the pre-qualified bidders by two months to the end of December.
Some of these airports are operational and recognised on AAI’s accounts even though airlines don’t operate from them.
"We fly about 340 flights a day. So you stimulate flights that need support or flights that you think would fly with more empty seats," said Kapoor.
Freshly capitalised from a $5.4 billion investment from its investor Concur Technologies, the portal is in no hurry go for another round of fund-raising.
The company's expenses climbed to Rs 1,782.95 crore in the latest June quarter. In the comparable period, the same stood at Rs 1,641.93 crore.
Jet is also following strict measures to cut costs by $100 million and may have to take some tough decisions on headcount.
Jet posted a net loss of Rs 217.65 crore for the first quarter of the current financial year, down from Rs 355.38 crore a year earlier.
Jet Airways aims to save $100 million (Rs 611.5 crore) by renegotiating contracts with its vendors and suppliers with help from its strategic partner Etihad Airways.
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