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Jet Airways shares dive over 5 pc on flight cancellations

Press Trust of India  |  New Delhi 

Shares of plunged over five per cent Monday after the firm cancelled more than 10 flights due to operational reasons.

The company's shares dropped 4.75 per cent to close at Rs 214.60 on BSE. During the day, it slumped 5.74 per cent to Rs 212.35.

At NSE, shares declined 5.24 per cent to close at Rs

214.10.

On the traded volume front, 6.67 lakh shares changed hands at BSE and over 52 lakh shares at NSE during the day.

Crisis-hit Sunday cancelled more than 10 flights due to operational reasons, according to a source.

On February 7, the said four of its aircraft have been grounded due to non-payment of lease rentals.

The source in the industry said more than 10 flights were cancelled from alone.

"The regrets the inconvenience it caused to its guests. Affected guests have been re-accommodated while those seeking refunds have been compensated as per appropriate guidelines," the said.

Faced with acute financial problems, the is looking to restructure debt and raise fresh funds.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 11 2019. 19:30 IST
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