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POST BALANCE SHEET EVENTS<br />
Jet Airways (India) Limited - 16th Annual Report 2007-08<br />
Resolution by Postal Ballot<br />
32. The Shareholders passed a Special Resolution by Postal Ballot authorizing the Board of<br />
Directors to issue Securities such as ADRs/GDRs/FCCBs etc. to eligible investors, QIBs/FIIs<br />
etc. up to US $ 400,000,000 (United States Dollars Four Hundred Millions).<br />
Fleet<br />
33. The Company inducted one ATR 72-500 and one Airbus 330 in May 2008 and one ATR 72-500<br />
and one Airbus 330 aircraft in June 2008.<br />
34. Depreciation on Narrow Body Aircraft was hitherto provided on Written Down Value Method.<br />
Based on the usage of such Aircraft, the industry practice followed in domestic and international<br />
markets, the Company, in order to reflect a more appropriate preparation / presentation of<br />
financial statements, has with effect from 1st April, 2008, changed the method of depreciation<br />
on such Aircraft to Straight Line Method and the surplus arising from retrospective computation<br />
aggregating Rs. 92,377 lac (excluding adjustment to revaluation reserve) will be accounted and<br />
disclosed under Exceptional Item.<br />
35. The Company, based on legal advice has, with effect from 1st April, 2008, adjusted the foreign<br />
currency differences on amounts borrowed for acquisition of fixed assets acquired from outside<br />
India aggregating Rs. 62,429 to the carrying cost of the fixed assets, in compliance with<br />
Schedule VI of the Companies Act, 1956 which is in variance with the treatment prescribed in<br />
Accounting Standard (AS -11) on ‘Effects of Changes in Foreign Exchange Rates’ notified in<br />
the Companies (Accounting Standards) Rules.<br />
Network<br />
36. The Company has introduced the following new routes and changes to exsiting routes after 1st<br />
April, 2008:<br />
International<br />
Routes Commenced on<br />
Mumbai - Hongkong - Mumbai 14th April, 2008<br />
Kochi - Doha - Kochi 18th April, 2008<br />
Mumbai - Muscat - Mumbai 21st April, 2008<br />
Mumbai – Abu Dhabi – Mumbai 23rd April, 2008<br />
Delhi – Abu Dhabi – Delhi 23rd April, 2008<br />
Mumbai – Bangkok – Mumbai 7th May, 2008<br />
Mumbai – San Francisco – Mumbai (via Shanghai) 14th June, 2008<br />
Delhi – Toronto – Delhi via Brussels<br />
(Operated as Delhi – New York (JFK)-Delhi until 31st July, 2008)<br />
1st August, 2008<br />
Chennai – New York (JFK) – Chennai via Brussels<br />
(Operated as Chennai – Toronto – Chennai until 31st July, 2008)<br />
1st August, 2008<br />
Mumbai – Dubai – Mumbai 23rd August, 2008<br />
Delhi – Dubai – Delhi 23rd August, 2008<br />
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