Jet Airways on DGCA’s radar: Aviation regulator to conduct financial audit of troubled airline

After evaluating the financial health of Air India, aviation regulator the Director General of Civil Aviation is set to conduct financial audit of Jet Airways. Official sourses informed in Mumbai on Sunday that on August 27 DGCA will conduct financial audit of Jet Airways whose fiscal conditions under pressure due to the surging jet fuel prices and low fares.
The financial audit of airlines is done to assess their fiscal health and also to ensure that they are not compromising on safety due to financial stress.
Following orders from Civil Aviation ministry, the DGCA had also carried out a special audit of Air Deccan and will soon be conducting a similar exercise on Air Odisha. Air Deccan had started operations in December last year while Air Odisha took to the skies in February this year.
Gulf carrier Etihad holds 24 per cent stake in Jet Airways. The Naresh Goyal promoted  airline facing  financial problems and its share price has also taken a beating in recent weeks.

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