Mumbai, October 30: Jet Airways is in the middle of a severe controversy over the last few months. The airline which has been trying to raise fresh funds, has appointed Goldman Sachs Group and Boston Consulting Group (BCG) as advisers to achieve these goals, as reported by Mint. Jet urgently needs to plan out a revival strategy, because of its bad financial shape, due to a rally in jet prices, and a depreciating rupee value. Jet Airways Seeks Fresh Funds From Banks to Ease Financial Crisis?

Jet posted a standalone loss of Rs 1,323 crore in the June quarter due to high fuel costs and a foreign exchange loss. Earlier this month, there were reports that the airline has already grounded more than a dozen planes as part of a review of its domestic routes that are not profitable.

The carrier is further looking at options to lay off more employees in non-core areas. Jet Airways had asked banks for a moratorium on loans and has asked for fresh funds to ease the cash crunch situation which they are facing.

(The above story first appeared on LatestLY on Oct 30, 2018 09:55 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).