Jet Airways on Thursday said that its Board has deferred the consideration of unedited financial results for the first quarter of the current financial year 2018-19.
"...Board of Directors of the Company, at its meeting held today (Thursday), deferred the matter of consideration of the unaudited financial results for the quarter ended 30 June, 2018," the airline said in a late evening BSE filing.
"It may be noted that the Audit Committee did not recommend the said financial results to the Board for its approval, pending closure of certain matters," it added.
The airline also reiterated that all of its accounts with lenders are "Standard" without any overdue.
"There have been no delays in discharging any of our loan obligations to any of the lenders. The company's account has been consistently 'Standard' over the last several years," the airline said in a statement.
The reassurance from the airline comes days after its board deferred consideration of the first quarter financial results. The deferment led to a slide in the airline's stock.
"The recent news on deferment of our quarterly results was mainly due to certain additional time requested by the management to its Audit Committee to complete its accounts which was accepted," the statement said.
"There are no differences of opinion whatsoever between the company and its statutory auditors. Both B.S.R. & Co. (KPMG affiliate) and DTS & Associates continue to be the statutory auditors of the company."
According to the airline, it has been evaluating various funding options to meet its liquidity requirements on priority.
"Jet Airways remains committed to turnaround its business and make appropriate disclosures on material information," the statement said.
