Jet Airways drops ~3% on grounding 7 more planes

In this month itself, 13 air planes have been grounded owing to non-payment of lease rentals.

Feb 28, 2019 12:02 IST India Infoline News Service

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Shares of cash-strapped Jet Airways slumped ~3% on Thursday after the company informed that seven more aircrafts have been grounded due to non-payment of lease rentals.

The announcement was made after market hours on Wednesday following the exchange filing released on February 23 stating that it has grounded four of its aircrafts on account of non-payment of dues to its lessors.

In this month itself, 13 airplanes have been grounded owing to non-payment of lease rentals.

"The company is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken by the company to improve its liquidity," the airline company said in a press note after market hours to the exchanges on Wednesday.  

Jet Airways (India) Ltd's share price is currently at Rs218.85, down by Rs6 or 2.67%, from its previous closing of Rs224.85 on the BSE.

The scrip opened at Rs219.50 and has touched a high and low of Rs222 and Rs211, respectively. So far, 1,07,53,416 (NSE+BSE) shares have been traded on the counter.

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