Jet Airways gains 4% as board approves debt resolution plan

The airline company is all set to receive an emergency loan of ~Rs600cr ($85mn) to tide over a cash crunch, a media report said.

Feb 15, 2019 12:02 IST India Infoline News Service

Jet-Airways3
Shares of Jet Airways gained 4% in intraday trade on Friday after its board approved a debt resolution plan. The shares jumped to a high of Rs242.85, a jump of Rs17 from its previous close of Rs225.80 on the BSE.

The airline company is all set to receive an emergency loan of ~Rs600cr ($85mn) to tide over a cash crunch, a media report said.

As per the report, the airline company may get the loan from banks led by State Bank of India against the shares pledged by Founder and Chairman Naresh Goyal and partner Etihad Airways PJSC and backed by their guarantees. Read more.

Jet Airways (India) Ltd share price is currently at Rs234.10, up Rs8.3, or 3.68%, from its previous close of Rs225.80 on the BSE.

The scrip opened at Rs224.15 and has touched a high and low of Rs242.85 and Rs215, respectively. So far, 1,68,42,753 (NSE+BSE) shares have been traded on the counter.

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