Jet Airways shares dive over 5 pc on flight cancellations

New Delhi: Shares of Jet Airways 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 Jet Airways on Sunday cancelled more than 10 flights due to operational reasons, according to a source.
On February 7, the airline said four of its aircraft have been grounded due to non-payment of lease rentals. The source in the aviation industry said more than 10 flights were cancelled from Mumbai airport alone.
“The airline 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 spokesperson said. Faced with acute financial problems, the airline is looking to restructure debt and raise fresh funds. (PTI)

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