Jet Airways shares fall over 3% after firm says it defaulted on loan repayment
The stock declined 3.39 per cent to Rs 271.50 on BSE.
12:48 pm
Jet Airways Insolvency: Debt hit Indian airline company plans to sell Netherlands business to KLM
Stocks in Focus on January 16: Jet Airways, IndiGo to Telecom Stcoks; Here are expected 5 Newsmakers of the DayNew Delhi: Shares of Jet Airways Wednesday fell over 3 per cent after the crisis-hit firm said it had defaulted on loan repayment to banks.
The stock declined 3.39 per cent to Rs 271.50 on BSE.
On NSE, shares of the company fell 3.13 per cent to Rs 272.
The full-service carrier has been grappling with financial woes for quite some time now and has been making delayed salary payments to staff.
"Payment of interest and principal installment due to the consortium of Indian banks (led by State Bank of India) on December 31, 2018, has been delayed due to temporary cash flow mismatch," the company said in a regulatory filing.
The company has engaged with them (banks) in relation to the same, Jet Airways added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
Stocks in Focus on January 15: Jet Airways, Yes Bank to Canara Bank; here are the 5 Newsmakers of the Day
Budget 2020 My Pick: This Rs 100 share will earn bumper income, experts say 'Buy'
MPs to raise Jet issue again; employees seek govt help