Jet Airways Shares

Traders may keep positions light owing to the weekend factor as uncertainty lingers around the threat of Omicron variant

With no new bidders emerging during this period, there are only three entities that had put in their initial bids earlier

The Committee of Creditors (CoC) met on Thursday, August 1 and considered to extend the deadline for submission of Expression of Interest for the airline on hopes of receiving bids from four bidders

Reports also suggested that founder Naresh Goyal has withdrawn from the bidding process.

The stock slipped 5% to Rs 251 on Thursday, falling 11% in past two trading days on BSE, after the rating agency ICRA on Wednesday downgraded the airline's loan and debenture ratings.

The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors and vendors.

Jet Airways market valuation also fell by Rs 651 crore to Rs 7,533 crore