Statement attributable to a Jet Airways spokesperson:
August 24, 2014
It is very disappointing that the recently published ICRA downgrade is based on a historic delay in debt servicing, which occurred and was resolved in the previous financial year. In fact, there were no outstanding default in the repayment of dues to the financial institutions and banks as at 31 March 2014.
Jet Airways can confirm that the airline is current on all its loan obligations and interest payments.
Our recently published first quarter results show a positive trend in performance and that the airline’s three-year business plan is on track.
Airline representatives will meet the agency on Monday to set the record straight.
© Jet Airways (India) Ltd.