MUMBAI, India (AFP) –Shares in India’s second-largest airline Jet Airways fell five percent Wednesday after the company admitted it had failed to meet debt payments to banks. The airline hit turbulence last year after failing to report its quarterly earnings or pay its staffers including pilots in August. Subsequently, chief executive Vinay Dube released the earnings and announced a cost cutting program amounting to 20 billion rupees ($280 million) over the next two years. “Payment […]
