Jet Airways shares trim early losses; close over 6 pc lower

Shares of Jet Airways, which has shut down operations temporarily, continued to fall for the third day in a row Monday, closing over 6 per cent lower.

The scrip nosedived 19.34 per cent to Rs 132.20 -- its 52-week low -- during the day on BSE. However, at close of trade it recovered most of its sharp early losses. It closed the day at Rs 154.60, 5.67 per cent lower.

At the NSE, shares plunged 6.15 per cent to close at Rs 154.70.

In terms of traded volume, 56.19 lakh shares were traded on the BSE and over five crore shares on the NSE during the day.

In three days, the scrip has plummeted 40.94 per cent.

Running into debt of more than Rs 8,500 crore, Jet Airways has shut down operations temporarily after lenders decided against extending emergency funds for its survival.

Cash-starved Jet Airways, which has around 23,000 employees, has delayed payment of salaries to the employees, including pilots.

Meanwhile, other listed airlines SpiceJet and InterGlobe Aviation also had a rough trading day falling 8.15 per cent and 4.22 per cent, respectively on the BSE amid Brent crude climbing to a multi-month high of USD 73.81 per barrel.