Statement attributable to a spokesperson:

"Jet Airways would like to clarify its position on certain inaccurate, damaging and misleading media reports, with regards to service tax payments of the airline. Jet Airways would like to state that a payment schedule has been mutually worked out and accepted together with the tax authorities and at no point in time the airline's accounts have been frozen.

In fact, no bank account of Jet Airways has been frozen or attached as reported inaccurately in certain sections of the press. Jet Airways would like to further confirm that as per the mutually accepted payment schedule an amount of Rs. 35 crore has already been received by the service tax department, and the balance Rs. 35 crore will be paid in full on March 15th, 2012.

The airline would like to add, that the service tax department had been in touch with IATA with regards to having their proceeds remitted when the collections are remitted to Jet Airways.

As a socially conscious corporate, Jet Airways is fully aware and completely committed to its guests, employees and the industry.”

Public Relations

Jet Airways (I) Ltd.

New Delhi and Mumbai, India

13, March 2012

Ragini Chopra                                               A.K. Sivanandan              
Vice President                                              Vice President–Public Relations
Corporate Communications
& Public Relations                                                                                               

New Delhi, India                                              New Delhi, India
Tel: +91  11 4164 5080                               Tel: +91 11 2652 3357
Fax: +91 11 4609 5084                               Fax: +91 11 2652 3348    
raginic@jetairways.com                                asivanandan@jetairways.com                                                                          
Srirupa Sen                                                               Minal Naik
Manager                                                                    Head - Key Relationships
Corporate Communications &                               Guests & Media                    
Public Relations                                                       Mumbai, India
Mumbai, India                                                     Tel: + 91 22 6121 1940              Tel: +91 22 6121 1784                                       Fax: +91 22 6121 1679
Fax: +91 22 6121 1679                                           mnaik@jetairways.com

ssen@jetairways.com