Our drive towards debt reduction would continue: Jet Airways

The Jet Airways management held a meet with analysts last evening and the key takeaway is that they expect their cost per available seat ex of fuel to reduce by 12 to 15 percent over the next three years.

In an interview with CNBC-TV18, Amit Agarwal, CFO of the company spoke about the latest happenings in his company and sector.

“Jet Airways for the last two-and-a-half years has been focused on the cost reduction drive,” he said.

Speaking about debt, he said that in the last three years, the company has reduced the debt by Rs 2,850 crore.

The focus of the company in the last two-and-a-half years to three years has been to reduce the cost and whatever cash flow is being generated from the business is going towards the debt reduction. “Our drive towards debt reduction would continue,” he further mentioned.

Rs 8,000 crore is the current debt of the company.

The upgrade on the Moody’s rating is also going to help us in terms of the sale and leaseback of the various aircrafts, which we are going to get, said Agarwal.

For full interview, watch accompanying video...