Jet Airways (India) shares skid 20 per cent to hit its 52-week low of Rs 123 on the BSE in early morning trade, on report that bidders have not shown interest in following up their offers for the debt-laden airline with a few days left to submit their final bids. The stock is trading close to its all-time low level of Rs 115 touched on March 12, 2009 in intra-day trade.
Since April 16, the market price of Jet Airways has tanked 56 per cent from the level of Rs 262, after the company suspended operations as lenders turned down the airline’s demand for emergency funding.
According to a report by ‘The Economic Times’, the bidders for Jet Airways so far appear uninterested in following up on their expressions of interest, dealing a major blow to the early revival of the airline.
