Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
August 16, Thursday 2018 1:24 PM       

       HEADLINES: Stranded girl seeks help via Facebook                                              Shutters of Aruvikkara dam raised                                              Let contentious issues, extraneous debates not distract us: Prez's I-Day message to the nation                                              Modi says corrupt, black money hoarders will not be spared                                              ‘Sleeping elephant’ woke up, India to lead world growth for three decades: PM Modi                                              Scotland Yard returns 12th century stolen Buddha statue to India on I-Day                                              Trump Tower operators sued over water release into river                                              Anger grows in Italy as bridge toll rises to 38                                              Former India captain Ajit Wadekar no more                                              Kaumudi Facebook
       BUSINESS Next Article: Indian Bank revises interest rates on FCNR(B) deposits  
       Jet Airways slumps 6% in morning trade on bourses
 
         Posted on :17:28:07 Aug 3, 2018
   
A A
       Last edited on:17:28:07 Aug 3, 2018
         Tags: JET airways, aircraft, jet
 

NEW DELHI: Shares of Jet Airways today slumped nearly 6 per cent in morning trade on the bourses after reports surfaced that the company's financials are in bad shape and drastic measures need to be taken to cut costs.



Shares of the company today opened on a weak note at Rs 324.80, then fell 5.72 per cent to a low of Rs 312.25 on BSE.

Similar movement was seen on the NSE as well, where the stock of the company opened at Rs 323.90, then fell to a low of Rs 312.15, down 5.73 per cent over its previous closing price.

According to media reports Jet Airways has informed its employees that the airline will not be able to operate beyond 60 days unless cost cutting measures, which include pay cuts, are put in place.

Earlier reports had surfaced that the airline has proposed up to 25 per cent pay cut for employees, but the proposal has been rejected by pilots and and engineers.

The full-service carrier was believed to be in discussions with certain sections of employees on the salary cut proposal, which has been mooted amid efforts to save costs.

Jet Airways, which completed 25 years of operations earlier this year, had 16,558 permanent employees as on March 31, 2018.

Besides, there were a total of 6,306 temporary/casual employees, as per the airline's annual report for 2017-18.

 

A A
       BUSINESS
Next Article: Indian Bank revises interest rates on FCNR(B) deposits
 
 
BUSINESS HEADLINES
Comfortable forex reserves to deal with undue Re volatility: Jaitley  
Positive growth in steel sector, trend to continue: Tata Steel  
Global Indian Solutions to address $900B NRI assets market in India  
DLF to offer only completed flats; to remove delivery uncertainty  
Adani walks away with gas rights for 21 cities; BPCL bags 11 cities  
India Cements Q1 net profits slips to Rs 21.03 cr  
Microsoft boss Nadella rakes in USD 35 million in share sale  
Odisha likely to put up 18 mines for auction this year: Mukim  
Erdogan says Turkey 'won't lose economic war' after lira crash  
Odisha likely to put up 18 mines for auction this year: Mukim  
US dollar ends sharply higher against rupee  
"Ligne Roset" is all set to cover North Indian market through India's premium furniture brand IOTA  
JP Morgan-CIIE to set up Financial Inclusion Lab  
Adani Power net loss widens to Rs 825 cr in Apr-Jun qtr  
Ola to launch its UK operations with ride-sharing offerings in South Wales, Greater Manchester  
Indra Nooyi to step down as PepsiCo CEO  
Paper Industry aims to rectify misconceptions about paper usage  
Sensex hits record high, Nifty breaches 11,400 mark  
GST slabs may reduce to 3 in long-term: Sanjeev Sanyal  
Lankan govenment reworking MoU on airport deal with India  
Indian carriers need $50 bn to buy planes over 10 yrs: Report  
GST slabs may reduce to three in long-term: Sanjeev Sanyal  
Goibibo now enables users to login via WhatsApp  
Jet Airways slumps 6% in morning trade on bourses  
Indian Bank revises interest rates on FCNR(B) deposits  
 
Do you think people took lightly government's warnings in flood-prone areas?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy