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 the 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 the stock exchanges on February 7 that it had grounded four of its aircraft on account of non-payment of lease rentals.
The stock closed the session at Rs 227.25, up Rs 2.40 (+1.07%) on the BSE. It closed at Rs 228.50, up Rs 4.20 on the NSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.