The shares of Jet Airways (India) continued to be under pressure on Monday, slipping 23 per cent to Rs 127. The stock has plunged 52 per cent over the past three trading sessions on the National Stock Exchange (NSE). The stock’s free fall began after the company announced temporary suspension of flight operations as lenders turned down the airline’s request for emergency funding.
The stock was trading at its lowest level since March 12, 2009 and was quoting close to its all-time low of Rs 115, hit on March 12, 2009, on the NSE in intra-day trade.
Last week, the consortium of Indian lenders, led by the State Bank of India (SBI), informed Jet Airways that they were unable to consider its request for critical interim funding.
