Jet Airways up 5% as lenders approve resolution plan

Shares of Jet Airways India Ltd hit the 5% upper circuit for the eight consecutive session on Monday after the lenders approved the resolution plan submitted by UK-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan to revive and operate the airline.

At 10.25 am, the scrip at ₹42.15 apiece on the BSE, up 5% from its previous close. Since the last eight sessions, the stock has gained 47%, while so far this year it has surged 45%.

Jet Airways hasn’t flown since 17 April 2019 after it halted flights due to an acute cash crunch.