Jet Airways has shut down operations temporarily after lenders decided against extending emergency funds for its survival.
New Delhi: Shares of Jet Airways (India) Limited halted its three-day decline and surged 13 per cent on Tuesday on value buying at lower levels.
The scrip, after a positive opening, jumped 11.57 per cent to Rs 172.50 on the BSE. At the NSE, shares zoomed 13 per cent to Rs 174.95. In the past three days, the scrip had plummeted 40.94 per cent.
Running into debt of more than Rs 8,500 crore, Jet Airways has shut down operations temporarily after lenders decided against extending emergency funds for its survival.
Cash-starved Jet Airways, which has around 23,000 employees, has delayed payment of salaries to the employees, including pilots.
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