Jet Airways climbs 5% after lenders allow 3rd extension for EoI submission until Aug 31

The CoC discussed on matters relating to the preservation of assets of the company and the Expression of Interest (EOI) received.

Aug 28, 2019 06:08 IST India Infoline News Service

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Jet Airways announced today that its lenders have agreed to give it a third extension for the expression of interest deadline, which will now be August 31, 2019.

Shares of the company jumped 5% after the news was announced.

The company in its filing said, "...we wish to inform that the Third Meeting of Committee of Creditors (CoC) of Jet Airways (India) Limited was held on 26th August 2019 in accordance with the Regulation 18 & 19 of the Insolvency & Bankruptcy Board of India Regulations, 2016. The CoC discussed on matters relating to the preservation of assets of the company and the Expression of Interest (EOI) received." 

It was also decided to extend the timelines for submission of EOI to 31st August 2019 and the same has been passed by requisite majority present and voted, in accordance with the provisions of the Insolvency & Bankruptcy Code, 2016, the troubled aviation firm added.

Jet Airways (India) Ltd is currently trading at Rs39.80 up by Rs1.85 or 4.87% from its previous closing of Rs37.95 on the BSE.

The scrip opened at Rs39.70 and has touched a high and low of Rs39.80 and Rs39.70 respectively. So far 1,21,504 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs431.11cr.

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