World

Jet Airways shares slumped 10 per cent

Similar trend was witnessed on the NSE too, where the share crashed to hit the lower price band of Rs 216.45

PTI | New Delhi | April 18, 2019 11:49 am

Shares of Jet Airways slumped 10 per cent in opening trade Thursday, a day after the ailing airline shuttered its operations temporarily.

On the BSE, the scrip hit the lower circuit of Rs 217.70, a fall of 10 per cent compared to the previous closing level.

Similar trend was witnessed on the NSE too, where the share crashed to hit the lower price band of Rs 216.45.

With lenders deciding not to extend any emergency funds, Jet Airways on Wednesday announced temporary suspension of operations.

Meanwhile, in a statement early Thursday, Jet Airways’ lenders said they were reasonably hopeful of a successful bidding process for stake sale.

The announcement came early morning ahead of market opening.