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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.

BT Online Bureau   New Delhi     Last Updated: November 22, 2011  | 15:27 IST

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.


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