Jet Airways trims debt by 7% so far in FY15: Report

11 Nov 2014

Jet Airways has reportedly trimmed its debt by 7% since the beginning of this fiscal year, even as it readies itself for more funding from its strategic partner Etihad Airways. The airline as of end September had total consolidated debt at Rs 9,794 crore on its books.

On 31 March 2014, the company’s debt stood at Rs 10,576 crore. Jet Airways’ cash and cash equivalents as of end September stood at Rs 1,604 crore. The debt has been retired using the $600-million cash infusion from Etihad Airways in lieu of a 24% stake in the airline, a majority stake in its privilege programme and slots at London's Heathrow Airport.

Jet Airways currently operates a fleet of 113 aircraft, which include 10 Boeing 777-300 ER aircraft, 8 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 72 next generations Boeing 737-700/800/900/900 ER aircraft and 15 ATR 72-500 and 3 ATR72-600.

 

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