Why grounded Jet Airways’ stock is taking its own sweet time to land
MUMBAI: It ain’t over till it’s over,” famously said baseball player Yogi Berra. It’s a mantra investors of Jet Airways (India) Ltd have held on to firmly.
The airline had suspended operations more than two months ago, and attempts to find a buyer for the airline have come a cropper. However, the company’s shares are taking a long time to land.
On Tuesday, after lenders finally dragged the company to the bankruptcy court, Jet’s shares fell as much as 41% in a single session. They had fallen by 31.5% on 18 April, the day after Jet announced that it is suspending operations.
