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  Business   Companies  28 Feb 2019  Jet Airways shares plunge over 6 pc after co grounds 7 more planes

Jet Airways shares plunge over 6 pc after co grounds 7 more planes

PTI
Published : Feb 28, 2019, 12:14 pm IST
Updated : Feb 28, 2019, 12:14 pm IST

So far this month, as many as 13 planes of the company have been grounded on account of non-payment of rentals to lessors.

Shares of the company dropped 6.15 per cent to Rs 211 on BSE.
 Shares of the company dropped 6.15 per cent to Rs 211 on BSE.

New Delhi: Shares of Jet Airways fell by over 6 per cent on Thursday after the company said seven more aircraft have been grounded due to non-payment of lease rentals.

Shares of the company dropped 6.15 per cent to Rs 211 on BSE. On NSE, the shares slumped 6.30 per cent to Rs 210.15.

 

So far this month, as many as 13 planes of the company have been grounded on account of non-payment of rentals to lessors.

In a filing to the stock exchanges on Wednesday, the full-service airline said "an additional seven aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements".

Faced with acute financial woes, the airline is looking to restructure its debt as well as raise funds.

On February 23, the airline said two planes had been grounded. This followed an announcement made to stock exchanges on February 7 that it had grounded four of its aircraft on account of non-payment of lease rentals. 

 

Tags: jet airways, shares, revenue
Location: India, Delhi, New Delhi