New Delhi: Income tax officials on Wednesday searched the offices of Jet Airways on a suspected case of tax evasion, adding to worries of the financially troubled airline that recently came under a cloud for deferring its June quarter results.
Surveys are being carried out at four premises of Jet Airways, two in Mumbai and two in Delhi, an income tax department official told Mint on condition of anonymity. “The surveys are being carried out for verification of expenses,” said the official.
“Income tax officials are conducting a survey at Jet Airways’ office,” said a company spokesperson without elaborating. The ministry of corporate affairs is also looking into the affairs of the company, which deferred its June quarter results once.
Jet Airways on 27 August posted a net loss of over Rs 1,320 crore for the quarter ended June 2018 due to higher fuel costs, competitive fares and a falling rupee. The company is working on a turnaround plan, which includes cutting costs by more than Rs 2,000 crore over two years, improving pricing and better inventory management.