NEW DELHI: The misery of Jet Airways' shares continued as they fell nearly 4 per cent in morning trade on Thursday.Today is the sixth consecutive session of Jet shares trading in the negative territory.
The beleaguered airline is struggling hard to survive.
It has defaulted on Indian and overseas loans, vendor payments, as well as delayed salaries and laid off staff.
A fresh report by ET suggested that the airline would not be able to operate beyond April if it doesnt get the entire promised debt funding of Rs 1,500 crore from its lenders in a week, its top management has estimated internally.The report further said that the airlines management also met lenders seeking clarity on the future of a revival plan drawn up by the banks after the Supreme Court quashed the RBI circular on debt restructuring rules for companies that have defaulted on loans.
No clarity or assurance has come from the lenders.The airline has grounded most of its planes due to unpaid dues to lessors or lack of spare parts.
Shares of the company traded 3.13 per cent down at Rs 243.25 around 10:10 am on BSE.