Jet Airways share slump after debt payment failure
Shares in India's second-largest airline Jet Airways fell five percent Wednesday after the company admitted it had failed to meet debt payments to banks.The airline hit turbulence last year after failing to report its quarterly earnings or pay its staffers including pilots in August.Subsequently, chief executive Vinay Dube released the earnings and announced a cost cutting programme amounting to 20 billion rupees ($280 million) over the next two years."Payment of interest and principal installment due to the consortium of Indian Banks on 31st December 2018 has been delayed due (...)
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