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Jet Airways shares end nearly 1% lower

Shares of Jet Airways fell nearly one per cent Thursday after the company said seven more aircraft have been grounded due to non-payment of lease rentals.

The scrip closed at Rs 222.80, down 0.91 per cent on BSE. During the day, it tanked 6.15 per cent to Rs 211.

At NSE, shares closed 0.35 per cent lower at Rs 223.50.

So far this month, as many as 13 planes of the company have been grounded on account of non-payment of rentals to lessors.

In a filing to stock exchanges Wednesday, the full-service airline said "an additional seven aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements".

Faced with acute financial woes, the airline is looking to restructure its debt as well as raise funds.

On February 23, the airline said two planes had been grounded. This followed an announcement made to stock exchanges on February 7 that it had grounded four of its aircraft on account of non-payment of lease rentals.