The airlines halts all its operations after lenders refuse emergency funding
As Jet Airways decided to shut operations temporarily late evening on Wednesday, the stock prices of the airline nosedived to Rs 217.70 at the time of opening bell on Thursday from the previous close of Rs 241.85.
During the first hour of trading, the airline’s stock plunged even further to Rs 175.85 making it a difference of 27.54 per cent. The airline’s 52 week low is Rs 163.00.
At 12 noon, the stock of Jet Airways was trading lower by 27.33 per cent at Rs 175.75.
The airline had announced temporary shutdown of operations because the much needed and the promised interim funding of Rs 1,500 crore had not been infused by SBI and other 9 lenders of Jet Airways.
