English Today’s Paper

Thursday, June 20, 2019

ePaper

HOME PAGE

ICC WORLD CUP

INDIA

WORLD

CITIES

OPINION

EXPLAINED

SPORTS

ENTERTAINMENT

LIFESTYLE

TECHNOLOGY

TRENDING

VIDEOS

PHOTOS

AUDIO

EPAPER

JOBS

EDUCATION

MOCK TEST

BUSINESS

Who Is

When Is
 What Is

How To

िहं दी

मराठी

മലയാളം

বাংলা

த ழ்

© 2019 The Indian Express Ltd.

All Rights Reserved

Aviation Banking & Finance Companies Economy Companies Market Others

BUSINESS

Investors continue to dump Jet Airways shares;

further tank 15%
The once largest private sector airline, started over 25 years ago, stopped ying in April after it
ran out of cash and the unpaid lessors took away most of its 100-odd operational aircraft.
By PTI | • New Delhi |
Published: June 18, 2019 2:21:51 pm

RELATED NEWS

Insolvency: NCLT to hear 3 pleas against Jet Airways today

 Jet Airways bankruptcy: NCLAT to hear SBI petition Thursday;
shares tank

SBI moves NCLT against Jet Airways; shares plunge 41%

The decision of the lenders to seek bankruptcy process through the NCLT came exactly two months after the
airline stopped ying on April 17, after being on the fringe since last July.

Jet Airways stock tumbled nearly 15 per cent Tuesday after State Bank of India-led consortium
of lenders decided to send the grounded airline to the National Company Law Tribunal. The
scrip fell for the 12th consecutive day and plunged 14.93 per cent to a multi-year low of Rs
58.10 on the BSE.

At NSE, shares plummeted 14.98 per cent to a multi-year low of Rs 58.15. In 12 trading days,
the scrip has plunged over 61 per cent.

Harried bankers Monday decided against an outright sale of Jet Airways to the lone bidder, and
instead voted to send it for bankruptcy to recover their Rs 8,000 crore dues.
The once largest private sector airline, started over 25 years ago, stopped ying in April after it
ran out of cash and the unpaid lessors took away most of its 100-odd operational aircraft.

After a meeting of the 26 lenders on Monday, SBI in a statement said, “after due deliberations,
the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since
only a conditional bid was received”.

The decision of the lenders to seek bankruptcy process through the NCLT came exactly two
months after the airline stopped ying on April 17, after being on the fringe since last July.

The scrip has also been on a backfoot following announcement that stock exchanges will
impose restrictions on trading in Jet Airways shares from June 28 as part of preventive
surveillance measures to curb excessive volatility, according to a circular issued last week.

Post Comment(s)

JET airways

Home / Business / Aviation / Investors Continue To Dump Jet Airways Shares; Further Tank 15%

Download the Indian Express apps for iPhone, iPad or Android

NEWS
Horoscope
RRB NTPC Admit Card 2019
World Cup 2019 Points Table
World Cup 2019 Points Table

Weather Today
NEET 2019 Counselling
NZ vs SA Live Score
Asus 6Z (Zenfone 6)
FEATURED
Express Data
Express Research
#MeToo
Business As Usual
Statutory provisions on reporting sexual offenses
TRENDING
Cricket World Cup 2019
Cricket News
Elections 2019
WWE 2019
World Cup 2019 Schedule
Govt Jobs
Tech News
Mock Test
THE GROUP
Ramnath Goenka Awards
Indian Express Group
26-11
Financial Express
Loksatta
Jansatta

INDIAN EXPRESS LANGUAGES

िहंदी मराठी മലയാളം বাংলা த ழ்

NEWSLETTER

Email Address Submit

FOLLOW US

© 2019 The Indian Express Ltd All Rights Reserved

© 2019 The Indian Express Ltd. All Rights Reserved
Privacy Policy Advertise with us Subscribe Contact Us