This is the proud moment for Jet Airways (India) Ltd as its rating has been upgraded by ICRA. ICRA is a credit rating agency that has increased the long-term rating of Jet Airways’ Non-Convertible Debenture programme and fund-based facilities where this airline succeeded to achieve rating of BB. As per ICRA, the rating rational was kept in consideration of the improvement in the liquidity and credit profile of the airline company that has been achieved by its improved and friendly operating performance in the year. Moreover, along with it, special consideration was on the strategic initiatives that are undertaken by Jet Airways along with benefits of synergies with Etihas Airways who is partner for this company to achieve such high profitability in operations.
Amit Agarwal, Chief Financial Officer, Jet Airways comment that this success and upgrade in rating truly reflects the strong operational and financial performance of the company. This reflects the true picture of progress that Jet Airways achieved through its dedicated service. Thus, overall the provided rating emphasis on the growth oriented approach, cost control, healthy liquidity position, initiatives and robust revenue enhancement by the Jet Airways Company.