Business

Jet Airways shares bounce back; zoom 19%

Shares of Jet Airways bounced back after days of massive fall and rose sharply by 19 per cent Thursday.

Despite a weak opening, where the scrip hit an all-time low of Rs 27, it later pared the losses and jumped 16.16 per cent to Rs 38.45 on the BSE.On the NSE, shares zoomed 19 per cent to Rs 39.40 after dropping to an all-time low of Rs 26.55 during the morning trade.In the last 13 trading days, shares of Jet Airways have tumbled 78 per cent. A consortium of 26 bankers led by the State Bank of India earlier this week took the airline to the National Company Law Tribunal (NCLT) to recover their dues of over Rs 8,500 crore.

Jet Airways, started over 25 years ago, stopped flying on April 17 after it ran out of cash and unpaid lessors took away most of its 100-odd operational airplanes.The tribunal will begin hearing on the matter from Thursday.  

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