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After deferring its Q1 results about two weeks ago, Jet Airways has finally announced the date when its board of directors will meet to not just consider the unaudited results but also cost reduction initiatives and turnaround plan.
“We refer to our above-mentioned letter dated August 17, 2018 on the subject and wish to inform you that the Audit Committee and the Board of Directors at their meeting scheduled to be held on Monday, August 27, 2018, while considering the unaudited financial results for the quarter ended June 30, 2018 will, inter-alia, take up the matters in relation to the cost reduction initiatives and turnaround plan, for which the management had earlier sought time," Jet Airways said in a statement to BSE on Wednesday.
On August 9, Jet Airways had deferred its scheduled Q1 results announcement as the audit committee did not recommend result to board. When both NSE and BSE inquired about the reason for the delay of announcing results, Jet Airways said it was done “pending closure of certain matters" without explaining what those matters were.
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