Jet Airways shares fell as much as 4 percent in early trade on Wednesday after it said the previous day it has grounded 15 more planes due to non-payment of dues to its lessors. <\/p>\n
The latest groundings mean more than two-thirds of its total fleet of about 120 planes is not flying. <\/p>\n
The airline, which was on the brink of bankruptcy, was bailed out in March by state-run banks that will temporarily take a majority stake in the company and give it a new loan of $218 million. <\/p>\n
After the bailout Jet told officials at the civil aviation ministry that the airline would not ground more planes and would fly 40 more aircraft by the end of April. <\/p>\n
The stock has shed more than half of its value in a year as of Tuesday’s close.<\/p>\n","protected":false},"excerpt":{"rendered":"
Jet Airways shares fell as much as 4 percent in early trade on Wednesday after it said the previous day it has grounded 15 more planes due to non-payment of dues to its lessors. The latest groundings mean more than two-thirds of its total fleet of about 120 planes is not flying. The airline, which was on the brink of bankruptcy, was bailed out in March by state-run banks that will temporarily take a majority stake in the company and give it a new loan of $218 million. After the bailout Jet told officials at the civil aviation ministry that […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-267719","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/267719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=267719"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/267719\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=267719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=267719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=267719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}