Jet Airways (India) Q1 Results, Financial Results Delayed Due to Insolvency Process

Jet Airways (India) Q1 Results 2024 - 2025

Jet Airways has faced delays in announcing its financial results for the first quarter of the 2024-2025 fiscal year. This delay is primarily because the company is still working through its corporate insolvency resolution process.

The airline, which has been trying to restart its operations under new ownership, hasn't yet adopted its financial results for the quarters ending in September 2023, December 2023, and March 2024. As a result, the financial results for June 2024 couldn't be finalized either.

The company's management, specifically the Monitoring Committee responsible for overseeing the implementation of the approved resolution plan, is expected to convene a meeting soon to review and adopt these pending financial results.

Despite these delays, the airline's new owners are working towards relaunching the airline by the end of 2024, aiming to restore Jet Airways to its former position in the Indian aviation market.

Source: Here

Jet Airways (India) Current Market Overview

Jet Airways, which is trying to relaunch after stopping operations in 2019, is currently trading at ₹38.4 per share. The airline's market capitalization stands at ₹436 crore, but its financial health shows challenges, with a negative book value of ₹-1,541.

The stock has seen a high of ₹75.3 and a low of ₹37.5, reflecting uncertainty in its market position. Despite the company's efforts to return to the aviation industry, it faces significant competition and financial hurdles.

About Jet Airways (India)

Jet Airways, once one of India's leading airlines, is currently in the process of trying to make a comeback after ceasing operations in 2019 due to financial difficulties. The airline, which was taken over by the Jalan-Kalrock consortium, has been working through legal and financial challenges to relaunch by the end of 2024.

Although the airline used to command a significant share of the Indian aviation market, it now faces stiff competition from other low-cost carriers like IndiGo and SpiceJet. Jet Airways is focused on overcoming these challenges to re-enter the market and regain its place in the Indian aviation industry.