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1-min read

Jet Airways Shares Jump 15.5% as Naresh Goyal Steps Down From Board

The stocks of Jet Airways jumped 12.69% to close at Rs 254.50 on the BSE. During the day, it rose sharply by 17.77% to Rs 266.

PTI

Updated:March 26, 2019, 7:29 PM IST
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New Delhi: Shares of Jet Airways zoomed 15.5 per cent on Monday with its founder and chairman Naresh Goyal and his wife Anita Goyal stepping down from the crisis-hit airline's board.

The stock jumped 12.69 per cent to close at Rs 254.50 on the BSE. During the day, it rose sharply by 17.77 per cent to Rs 266. On the National Stock Exchange (NSE), shares zoomed 15.46 per cent to close at Rs 261 apiece.

On the traded volume front, 33.60 lakh shares were traded on the BSE and over 4 crore shares on the NSE during the day.

Naresh Goyal and his wife will resign from the board of the airline, according to a regulatory filing.

The decision was taken at the airline's board meeting held in Mumbai Monday.

While the airline made an official announcement about the board's decisions after the markets closed, reports have been doing the rounds since morning that Goyal would be stepping down from the board.

In the filing to the stock exchanges, Jet Airways said Naresh Goyal, Anita Goyal and one nominee of Etihad Airways PJSC would step down from the board.

Abu Dhabi-based Etihad is a strategic partner with 24 per cent stake in Jet Airways.

Naresh Goyal would also cease to be the chairman, the filing said.

Jet Airways, which has been operating for more than 25 years, is grappling with financial crunch and is also looking to raise fresh funds.

The airline has suspended operations on at least 14 international routes till the end of April and over 80 planes are on the ground. As many as 54 aircraft have been grounded due to non-payment of lease rentals.

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