Jet Airways shares fall 1.5% as lenders prepare to invite bids for stake sale

Shares of Jet Airways Friday fell by 1.50 per cent as lenders prepare to invite bids for stake sale in the ailing airline.

On the BSE, the scrip fell 1.50 per cent to Rs 256.05. Intra-day, it fell 2 per cent to Rs 254.50.

The stock declined 1.92 per cent to close at Rs 255.30 on the NSE.

In terms of volume, 10.89 lakh shares were traded on the BSE during the day, while over 1.8 crore shares changed hands on the NSE.

As uncertainty continues over the future course of the airline, the consortium of lenders on Thursday said bids for selling stake would be invited on April 6 and other options would be explored in case the stake sale efforts do not result in an "acceptable outcome".

The consortium of domestic lenders, led by the State Bank of India, had also said they would pursue resolution plan for the carrier in a time-bound manner under the present legal and regulatory framework.

Acute financial crunch has forced the airline to ground aircraft, cancel flights and delay payment of salaries, including to pilots.