The low-cost airline has been reporting losses for the past four years and is operating less than 50 per cent flights, following the July 27 DGCA order in the wake of mishaps.
Stocks to watch today: HDFC, slated to merge with HDFC Bank, raised Rs 4,000 crore through a paper with a maturity of 21 months; Jet Airways plans to lease 6 to 8 planes as part of re-launch.
Jet Airways has crossed the 200-weekly moving average (WMA) for the first time since mid-2018, a period of almost 4 years, which indicates an underneath positive bias
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Shares of the defunct airline are up 15.6 per cent in 3 trading sessions as against a 1 per cent gain in the frontline S&P BSE Sensex.
Analysts, however, advise caution against excessive speculation in the counter
For businessman Murari Lal Jalan and consortium partner Kalrock, reviving airline is an opportunity
The committee of creditors of Jet Airways, on October 17, 2020, approved the resolution plan of consortium of Kalrock Capital-Murari Lal Jalan
The committee of creditors of Jet Airways has approved the resolution plan of consortium of Kalrock Capital-Murari Lal Jalan.
According to a report, eighteen months after it was grounded, Jet Airways is all set for a comeback.
The meeting took place in the backdrop of two suitors, showing interest in the grounded airline but failing to submit a resolution plan for bid submissions on Monday
Jet has completed 180 days of its insolvency proceedings and has extended the corporate insolvency process by another 90 days.
The grounded Jet Airways owes over Rs 8,000 crore to its lenders. Besides, the airline is estimated to have a total liability of about Rs 25,000 crore which includes dues of operational creditors.
The Committee of Creditors (CoC) met on Thursday, August 1 and considered to extend the deadline for submission of Expression of Interest for the airline on hopes of receiving bids from four bidders
Shares of Jet Airways surged as much as 9 per cent to Rs 319.80 apiece on BSE after a TV report said that airline's promoter Naresh Goyal has agreed to sell his controlling stake in the company.