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Jet Airways plunged to a 52-week low as the airline has deferred the announcement of June quarter results. Shares of India's biggest full-service airline fell as much as 14.5 per cent to Rs 258 on the NSE. On the BSE, the stock plunged as much as 13.3 per cent to Rs 261.
In a BSE filing late last night, the Naresh Goyal-run airline said the board of directors has decided not to review the unaudited financial performance for the June quarter.
“The audit committee did not recommend financial results to the board for its approval, pending closure of certain matters,” the airline had said in the regulatory filing without offering more details.
Addressing the shareholders yesterday, Goyal said he felt “guilty and embarrassed” as they have lost money.’
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The airline has been facing financial troubles, but remains confident to be able to cut costs and keep flying despite reports that it had warned staff it was running out of cash.
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