NSE To Remove Jet Airways From Daily Trading From June 28

0

New Delhi: The National Stock Exchange (NSE) on Wednesday said the shares of Jet Airways (India) Ltd will be removed from daily trading, effective from June 28, citing the grounded carrier’s failure to respond to queries about persisting rumours in the market.

NSE also cited the company’s failure to submit financial results for the year ended 31 March, as well as observations made by its auditor, as reasons for its decision.

Shares of the Mumbai-based air carrier fell 1.38% on Wednesday to₹106.3 on the BSE, compared with a 0.48% decline in the benchmark Sensex.

The shares of Jet Airways have shed nearly 71% in a year, underperforming the Sensex’s 11.39% gain.

The carrier has deferred interest payments to banks and dues to fuel suppliers, oil marketing companies, and aircraft lessors.

As a result, lessors of the airline had grounded most of its 119 planes.

The debt-ridden carrier has also not paid some employees since March. Jet Airways spent ₹781.19 crore as remuneration for its employees during the October-December 2018 quarter.

Also Read: Climbers Did Not Die Due To Congestion On Mt Everest: Nepal

Leave A Reply

Your email address will not be published.