NEW DELHI: Shares of Jet AirwaysNSE 0.70 % jumped 3 per cent in early trade on Friday after reports appeared that the State Bank of IndiaNSE 0.60 % and Punjab National BankNSE 0.14 % have agreed to provide Rs 500-crore emergency funding to the beleagured airline.
With this, the stock extended its winning streak on BSE into the third consecutive session.
The funding, which is subject to others in the consortium of lenders not objecting, will allow the airline to continue operations until the lenders determine the best way of restructuring the company’s debt of more than Rs 8,000 crore.
