Advertisement

Business

Updated on: Monday, September 13, 2021, 07:13 PM IST

Jet Airways shares jump 5% on news of restarting domestic operations in 2022

PTI
Jet Airways will restart domestic operations by the first quarter of 2022 and short-haul international flights by the last quarter of the next year, Jalan Kalrock Consortium, the winning bidder for the grounded airline, stated on Monday/ Representational image |

Jet Airways will restart domestic operations by the first quarter of 2022 and short-haul international flights by the last quarter of the next year, Jalan Kalrock Consortium, the winning bidder for the grounded airline, stated on Monday/ Representational image |

Advertisement

Shares of Jet Airways on Monday jumped 5 per cent as the company will restart domestic operations by the first quarter of 2022 and short-haul international flights by the last quarter of the next year.

The stock gained 4.97 per cent to close at Rs 83.50 -- its upper circuit -- on the BSE.

On the NSE, it jumped 4.98 per cent to close at Rs 84.40.

Jet Airways will restart domestic operations by the first quarter of 2022 and short-haul international flights by the last quarter of the next year, Jalan Kalrock Consortium, the winning bidder for the grounded airline, stated on Monday.

The first flight of Jet Airways would be on the Delhi-Mumbai route, it mentioned, adding that the airline would now be headquartered in Delhi instead of Mumbai.

The National Company Law Tribunal (NCLT) in June this year had approved the Jalan Kalrock Consortium's resolution plan for Jet Airways, two years after the once-storied full-service carrier went into insolvency proceedings.

In a statement, Murari Lal Jalan, Lead Member of the Jalan Kalrock Consortium, said, "Jet Airways 2.0 aims at restarting domestic operations by Q1-2022, and short-haul international operations by Q3/Q4 2022." The plan is to have 50-plus aircraft in three years and 100 plus planes in five years, which also fits perfectly well with the short-term and long-term business plan of the Consortium, he noted.

The airline was grounded in April 2019 due to a fund crunch and high debt.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Monday, September 13, 2021, 07:13 PM IST
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement