Jet Airways announced a delay in releasing its financial results for the quarter and year ending March 2024. The airline’s monitoring committee will soon meet to finalize these results. Currently, the approved resolution plan is in the implementation phase, and efforts are being made to comply with SEBI regulations.
Key Points:
- Resolution Plan: The plan, submitted by Murari Lal Jalan and Florian Fritsch, was approved in June 2021 by the National Company Law Tribunal (NCLT) and is now being implemented.
- Monitoring Committee: This committee was established to oversee the plan’s execution but hasn’t yet adopted the financial results for the September and December quarters of the last financial year.
- Delay Reason: Due to the ongoing implementation of the resolution plan, the financial results for March 31, 2024, haven’t been finalized yet. A meeting will be held soon to consider these results.
Jet Airways, which halted operations in April 2019 due to financial difficulties, is undergoing an insolvency resolution process. The airline aims to comply with all necessary regulations and will provide updates as soon as possible.
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