scorecardresearch
Jet Airways needs to raise funds: Report

Jet Airways needs to raise funds: Report

Deloitte Haskins & Sells and Chaturvedi & Shah said that raising money is crucial if Jet's accounts have to be prepared on a "going concern basis" in the future, according to the reports.

The auditors of India's biggest carrier Jet Airways have warned that the airline needs to raise funds in the future to meet its obligations, reports said.

Deloitte Haskins & Sells and Chaturvedi & Shah said that raising money is crucial if Jet 's accounts have to be prepared on a "going concern basis" in the future, according to the reports.

The airline sector in India is battling rising fuel costs and a debt burden amid a domestic economic slowdown. Besides, a falling rupee is making it tough for them to raise funds abroad.

Perspective: What ails Indian aviation

The country's largest private air carrier Jet Airways posted a net loss of Rs 713.60 crore for the second quarter of 2011-12, due to high prices of aviation turbine fuel and a depreciating rupee. The company had reported a loss of Rs 123.16 crore in the April-June quarter.