Jet Airways to Consider Cost Cuts, Turnaround Plan Next Week

Board to also consider earnings for April-June quarter at meet
Carrier deferred earnings seeking more time to finalize books

A Jet Airways aircraft prepares to land at Chhatrapati Shivaji International Airport in Mumbai.Photographer: Dhiraj Singh/Bloomberg

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By Debjit Chakraborty

August 22, 2018 at 11:14 AM UTC

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Jet Airways India Ltd., the carrier that deferred earnings earlier this month, will consider a turnaround plan on Aug. 27 when its board meets to approve financial results for the quarter ended June.

The board will “take up the matters in relation to the cost reduction initiatives and turnaround plan, for which the management had earlier sought time,” Jet Airways said in a filing Wednesday. The company, part-owned by Etihad Airways PJSC, deferred its earnings originally scheduled for Aug. 9 by more than two weeks, saying management and auditors needed more time to finalize accounts.