Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
2-min read

Jet Airways' Shares Tank Ahead of Board Meeting, Aviation Minister Calls for Review of Issues

Jet Airways is grappling with acute financial crunch and is operating less than 10 planes besides temporarily suspending international operations.

News18.com

Updated:April 16, 2019, 12:43 PM IST
facebookTwitterskypewhatsapp
Jet Airways' Shares Tank Ahead of Board Meeting, Aviation Minister Calls for Review of Issues
News18 creative by Mir Suhail
Loading...

New Delhi: The shares of Jet Airways slumped over 3 per cent in morning trade on bourses Tuesday, ahead of the meeting where the management will seek guidance from the board on the next steps forward for the airline.

Shares of Jet Airways opened on a weak note at Rs 254.50, then lost further ground and touched a low of Rs 252 on BSE, down 3.74 per cent over its last close.

Similar movement was seen on NSE, where the stock opened at Rs 255, then fell to a low of Rs 252.10, down 3.66 per cent over its previous closing price.

Jet Airways is grappling with acute financial crunch and is operating less than 10 planes besides temporarily suspending international operations. Its chief executive Vinay Dube, in an internal communication, had said the lenders could not decide on the emergency funding and that the board of the airline will meet Tuesday to take a call on the future.

"As you are aware, we have been working with the lenders to secure interim funding for our operations. The interim funding has not been forthcoming thus far, and as a result we have extended cancellation of international operations until April 18.

"The current status of our engagement with the lenders and other related matters shall be placed before the board tomorrow (Tuesday) morning, where the management will seek guidance from the board on the next steps forward. We will keep you updated on all critical developments," Dube said in a mail.

Meanwhile, civil Aviation Minister Suresh Prabhu has called for a review of issues related to struggling Jet Airways, including rising fares and flight cancellations. Prabhu has also asked Civil Aviation Secretary Pradeep Singh Kharola to take necessary steps to protect the rights and safety of passengers.

"Directed Secretary @MoCA_GoI to review issues related to Jet Airways, especially increasing fares, flight cancellations etc," Prabhu said in a tweet.

Besides asking the secretary to take necessary steps to protect passenger rights and safety, Prabhu has called for working with all stakeholders for their well-being.

Jet Airways pilots' union, the National Aviators Guild had Sunday deferred a decision to strike from Monday saying that it wanted to give more time to the airline ahead of the lenders' meeting here.

(With inputs from PTI)

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 550.75 -0.11
HDFC 2,100.00 -0.84
Reliance 1,278.00 -0.80
Yes Bank 79.45 3.79
HDFC Bank 2,227.70 -0.08
Company Price Change %Gain
SBI 290.95 0.38
Indiabulls Hsg 551.10 -0.04
Yes Bank 79.45 3.79
Maruti Suzuki 5,975.15 2.74
SpiceJet 143.50 3.02
Top Gainers
Company Price Change %Gain
UPL 549.05 4.14
Yes Bank 79.45 3.79
Power Grid Corp 211.15 2.92
Maruti Suzuki 5,975.05 2.73
IndusInd Bank 1,439.10 2.73
Company Price Change %Gain
Yes Bank 79.45 3.79
Power Grid Corp 211.25 2.85
Maruti Suzuki 5,975.15 2.74
IndusInd Bank 1,438.25 2.70
Axis Bank 675.55 1.86
Top Losers
Company Price Change %Gain
TCS 2,165.10 -1.78
Vedanta 144.40 -1.47
HCL Tech 1,062.75 -1.25
BPCL 351.20 -0.92
HDFC 2,100.00 -0.84
Company Price Change %Gain
TCS 2,163.50 -1.87
Vedanta 144.30 -1.54
HCL Tech 1,061.65 -1.37
HDFC 2,098.75 -0.91
Reliance 1,277.40 -0.85

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results