INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Falling for the fifth consecutive day, shares of Jet Airways declined over 3 per cent in morning trade on Wednesday
In last five days, the stock has come off by 8 per cent to Rs 254.55
The beleaguered airline is fighting for its survival
and also, according to industry experts, ineligible to fly on international routes.
In addition to grounding a majority of its fleet, it
defaulted on Indian and overseas loan repayments, vendor dues and salaries, and also laid off people.
Banks were to release an immediate
additional debt funding of Rs 1,500 crore for Jet to tide through and part-pay its vendors and employees, but the funds have not been
released yet, the report added
Shares of the company traded 2.94 per cent down at Rs 257.10 on BSE around 9:40 am
