Jet Airways shares nose dive
- A Monitor Report
08 Nov, 2018 |
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Jet Airways at New Delhi airport
NEW DELHI: Jet's shares plunged as much as 10.8 per cent in their biggest daily percentage fall since September 25, before ending the day nearly 6 per cent lower.
Jet Airways, India’s largest private carrier has been struggling to keep itself afloat and it had said in August that it will inject funds and cut costs to turn around the business.
Profits of airlines in the world's fastest-growing aviation market have been dented with the surge in crude oil prices and a depreciating rupee.
Jet Airways Ltd said on November 7, it has received notices on payment delays from a few aircraft lessors, adding to the debt-laden airline's woes.
"... they (aircraft lessors) are mindful of the challenges currently faced by the Indian aviation industry and they have been supportive of the company's efforts," the airline said in a statement.