Jet Airways shares rally 5% after board approves debt resolution plan
Shares of Jet AirwaysNSE 3.19 % rallied over 5 per cent in morning trade on Friday after the board approved bank-led resolution plan (BLRP), entailing conversion of lenders’ debt into equity.
However, the airline reported a standalone net loss of Rs 587.77 crore for the quarter ended December 31. It had posted a net profit of Rs 165.25 crore in the same quarter last year.
On a consolidated basis, Jet Airways posted a net loss of Rs 732 crore for the quarter, against a net profit of Rs 186 crore for the same period last year.
