Stocks

Jet Airways' shares climb 3%

Reuters Aug 17 | Updated on August 17, 2018 Published on August 17, 2018

Shares of India's biggest full-service airline Jet Airways (India) Ltd climbed as much as 2.9 per cent to Rs 309.

Shares of India's biggest full-service airline Jet Airways (India) Ltd climbed as much as 2.9 per cent to Rs 309.

According to a media report, the cash-strapped airline is in talks with non-banking financial companies to raise Rs 1,500-2,000 crore ($214 million-$285 million) against its forward sales.

On August 13, Jet Airways had said it was considering various options to meet its funding requirements. A source told Reuters that the airline had informed its staff earlier this month that it was running out of money.

The airline has also deferred the quarterly results to August 27 when the board members will meet to approve first-quarter results. Jet Airways stock had fallen 64 per cent this year as of last close.

Published on August 17, 2018
This article is closed for comments.
Please Email the Editor