Jet Airways stock flies on news that the airline is in talks to buy 100 aircraft ahead of its comeback
- Shares of
Jet Airways(India) were locked in a 5% upper circuit at ₹90.30 on Friday on news that the airline is in talks with Boeing Co and Airbus SE for an order worth $12 billion.
- The airline, which has been grounded since 2019, is expected to resume its operations in the first quarter of FY23.
- The new owners Jalan-Kalrock consortium's resolution plan for Jet was approved by a bankruptcy court in June.
AdvertisementShares of Jet Airways (India) are in the spotlight as the stock is locked in a 5% upper circuit at ₹90.30, on December 3, on news that the airline is in talks with aircraft manufacturers Boeing Co and Airbus SE for an order worth $12 billion.
BloombergQuint reported that new owners -- Murari Lal Jalan and Kalrock -- said it could buy at least 100 narrow-body aircraft. The group is set to invest about $200 million through equity and debt in Jet over the next six months, said the media firm in a tweet.
The airline has been through a lot of turbulence in the last couple of years and is now in the news for resuming its operations by adding new aircraft.
Jet Airways went to bankruptcy court after being grounded in April 2019. Later in June 2021 new owners -- UK-based Kalrock Capital Partners and UAE-based businessman Murari Lal Jalan -- took over the defunct airline.
Now the airline is expected to resume its domestic flights in the first quarter of the next financial year that starts from April 1, 2022.
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