Jet Airways to Fly soon?
The shares of the grounded airlines rose nearly 5% on tuesday as company plans a comeback in 2021
New Delhi, 8/12: Jet Airways shares rose nearly 5% on Tuesday after the new promoters of the company said operations could start in the summer of 2021. At 11:35 am, Jet Airways stock was up 4.97 percent at Rs 75. Earlier in the day, Jet Airways shares rose above 5 percent.
The airline’s stock is trading higher after its new promoters, led by Murari Lal Jalan and Kalrock Capital, said Jet Airways may resume operations next year if everything goes according to plan.
“The Jet 2.0 program is aimed at reviving the past glory of Jet Airways, with a fresh set of processes and systems to ensure greater efficiency and productivity across all routes,” said a statement released by the new promoters.“If everything goes as per plan and the consortium receives the NCLT and regulatory approvals on time, Jet Airways would be back in the skies by the summer of 2021,” they added.
Once considered the largest airline in India, Jet Airways stopped flying in April 2019 due to acute fund shortage and piling debt.
