All airlines are feeling the coronavirus pinch but one that hasn’t flown since April 2019 after collapsing under a pile of debt is the world’s best performing — at least from a share price point of view.
Stock in Mumbai-listed Jet Airways India Ltd. has surged almost 150% this year versus a 42% plunge in the 27-member Bloomberg World Airlines Index, which comprises the globe’s biggest carriers.
Its runaway gains have market watchers scratching their heads, especially since Jet Airways is undergoing bankruptcy proceedings, has almost 17,000 creditors seeking claims of around $3.4 billion and has had most of its landing slots confiscated. It doesn’t have any employees to speak of, either.
