Jet Airways shares tumble nearly 5% as crisis deepens

Shares of crisis-hit Jet Airways plunged nearly 5 per cent Wednesday after the company grounded six more planes due to non-payment of lease rentals.

The stock tumbled 4.82 per cent to close at Rs 218 on the BSE. During the day, it plunged 6.59 per cent to Rs 213.95.

On the NSE, shares cracked 4.89 per cent to close at Rs 218.05.

In terms of volume, 11.73 lakh shares were traded on the BSE and over 1.33 crore on the NSE.

The shares of Jet Airways had declined by nearly 4 per cent on Tuesday also.

As many as 47 aircraft of the full service carrier are on the ground now as the company failed to pay rentals to lessors.

".... an additional six aircraft (include one aircraft of Jet Lite (India) Ltd) have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements," the airline said in a filing to the stock exchanges Tuesday.

Jet Airways has been grappling with acute financial woes and has been looking at ways to raise fresh funds.

Meanwhile, in more trouble for the airline, an umbrella body of its domestic pilots Tuesday threatened to stop flying from April 1 if their dues are not paid by March-end.