Saturday, February 16, 2019 | ePaper

India's Jet Airways nosedives after earnings delay

  • Print
AFP, Mumbai :
Shares in India's Jet Airways tumbled more than eight percent on Friday after the embattled airline failed to release its latest quarterly earnings as scheduled.
Local media have raised concerns about India's second-largest carrier, reporting it may cease flying in two months unless it makes major cost cuts.
Jet Airways slid 8.04 percent in morning trade, a day after it told the Bombay Stock Exchange that it was delaying releasing its first-quarter results until an unspecified date, "pending closure of certain matters," it said in a filing.
Intense competition, rising jet fuel prices, and a weak rupee have been credited for eroding the profitability of Indian airlines, including Jet Airways, India's number-two carrier by market share.
Last week the Economic Times reported that Jet needs to make major cost cuts or face having to shut down operations within 60 days.
The Mint financial daily reported that the airline was in talks with investors to raise cash. Jet Airways denied that it needed to take drastic measures.
Indian passenger numbers have increased six-fold over the past decade as customers take advantage of better connectivity and cheaper fares thanks to a host of low-cost airlines.

More News For this Category

Shafiul Alam Khan Chowdhury, AMD of Pubali Bank Limited, speaking at a training workshop on 'Executive Development Programme' at the banks training institute in the city recently. 27 executives of the bank participated in the workshop. Niranjan Chandra Gope, Principal of the institute and other senior officials of the Bank were also present.

Shafiul Alam Khan Chowdhury, AMD of Pubali Bank Limited, speaking at a training workshop on 'Executive Development Programme' at the banks training institute in the city recently. 27 executives of the bank participated in the workshop. Niranjan Chandra Gope, Principal of the institute and other senior officials of the Bank were also present.

.

Asian shares drop on trade talks fears, weak US retail

AFP, Hong Kong :Asian stocks retreated Friday as concern grew over reports of an impasse in China-US trade talks in Beijing, and Wall Street was hit by weak US

Slower profit growth no spur to Commerzbank-Deutsche merger

AFP, Frankfurt Am :Germany's second-biggest lender Commerzbank said Thursday its profits jumped in 2018, with growth in its client base and ebbing restructuring costs opening the way for a

EU lawmakers greenlight screening of Chinese investment

AFP, Strasbourg :The European Parliament on Thursday gave its green light to new powers to screen foreign takeovers in Europe's strategic sectors, amid concern about investment by China.The limited

Tokyo stocks open lower on weak US retail, higher yen

AFP, Tokyo :Tokyo stocks opened lower on Friday, tracking falls on Wall Street as weak US retail sales disappointed investors and a higher yen weighed on the market.The benchmark

Mohammodi Khanam, CEO of Prime Insurance Company Limited and Dr. Shakti Ranjan Paul, Chairman of Life and Health Limited and Adviser of Bangkok Hospital, exchanging an agreement signing document on Medical Services at Unique Heights in the city recently. Md. Zakiullah Shahid, Chairman, Shaeda Parvin Trisha, Vice-Chairperson and other members of the company and dignitaries from the hospital were also present.

Mohammodi Khanam, CEO of Prime Insurance Company Limited and Dr. Shakti Ranjan Paul, Chairman of Life and Health Limited and Adviser of Bangkok Hospital, exchanging an agreement signing document on Medical Services at Unique Heights in the city recently. Md. Zakiullah Shahid, Chairman, Shaeda Parvin Trisha, Vice-Chairperson and other members of the company and dignitaries from the hospital were also present.

.

US officials to meet Xi as trade talks near end

US officials to meet Xi as trade talks near end

AFP, Beijing :Top US economic officials were to meet on Friday with Chinese President Xi Jinping as the sides aim to wrap up trade talks in Beijing with enough

China imposes anti-dumping tariffs on Brazilian chicken

AFP, Beijing :China announced anti-dumping duties on Brazilian chicken Friday, saying investigations had revealed that poultry imports had done "substantive damage" to the domestic broiler industry. The tariffs -

World stocks slip with few leads from US-China talks

UNB, Singapore :World markets were mostly lower on Friday in the absence of good news as the U.S. and China concluded yet another round of trade talks in Beijing.France's

Dubai property giant Emaar grows profits despite lower prices

AFP, Dubai :Dubai-based construction giant Emaar Properties said on Thursday its net profits for the fourth quarter and the whole of last year increased despite falling real estate prices.The