SpiceJet up 8% on reports of taking over Jet Airways’ aircrafts

The development will help 250 pilots and cabin crew maintenance workers and engineers of Jet Airways.

Mar 22, 2019 05:03 IST India Infoline News Service

Traveling People
Shares of SpiceJet gained 8% on Friday after media reports suggested that the airline company is considering to acquiring 40 grounded aircrafts of Jet Airways.

As per media reports, the government is mulling to ask SpiceJet to buy aircrafts of Jet Airways. Accordingly, the development will help 250 pilots and cabin crew maintenance workers and engineers of Jet Airways. The move looks a win-win situation for both airlines.

The need for saving jobs of debt ridden airline company became a need of hour, especially after media reports suggested that State Bank of India led consortium showed confidence in saving the cash strapped airline company.

SpiceJet Ltd's share price is currently at Rs98.90, up by Rs7.25 or 7.91%, from its previous close of Rs91.65 on the BSE. The scrip opened at Rs93.50 and has touched a high and low of Rs104.70 and Rs93.30 respectively. So far 95,24,471 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs5,496.42cr.

Jet Airways (India) Ltd's share price is currently at Rs224.20, up by Rs6.2 or 2.84%, from its previous close of Rs218 on the BSE. The scrip opened at Rs219.30 and has touched a high and low of Rs225.80 and Rs219, respectively. So far, 54,35,438 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs2,476.48cr.

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