Jet Airways hires professional services firm Alvarez & Marsal to help it clock profits


Jet Airways has hired professional services firm Alvarez & Marsal (A&M) to help it turn around within a year, a development that comes months after it sold a 24% stake to United Arab Emirates-based Etihad Airways. 

The move comes after Jet Airways posted seven successive quarters of losses till second quarter of the current financial year. Although Jet Airways, India's second largest airline, posted a quarterly profit in the quarter to September last year, analysts say the company is still not out of the woods as the profits were mainly due to one-off gains. 

The Mumbai-based carrier has mandated A&M to help it clock profits for 12 months in a row, executives familiar with the matter said on condition of anonymity, adding that the company could turn around in the coming quarters even as its competitors and industry analysts remain sceptical. 


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