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Home business Jet Airways: Jet Airways again grounded 4 aircraft, share prices fell
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Jet Airways: Jet Airways again grounded 4 aircraft, share prices fell

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Business desk| Crisis and problems are not ending for Jet Airways. The company has to re-ground its 4 aircraft. At the same time, Jet Airways, which is facing cash crisis, has raised Rs 250 crore from the advance sale of tickets under its client loyalty program Jet Privilege. About five months ago, the airline had raised money in this manner. At 10 a.m. on Friday, Jet Airways was trading at around Rs 233 with a loss of nearly 1.5 per cent.

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An airline spokesman said that this time the money has been raised in the same way as it was mobilized in October, 2018. The full service provider aviation company is battling a serious financial crisis. Besides the restructuring of the airline, the airline is also trying to raise new funds.

The spokesperson said, "As of October 2018, the airline has raised $ 3.5 million through a prepaid ticket purchase agreement." According to the current exchange rate, this amount is 250 crores. "Jet Airways, a troubled aviation jet, on Thursday Said that due to non-payment of lease rent, he had to ground its four planes.

The company struggling with serious financial crisis is trying to restructure debt and raise funds. In the information sent to the stock exchanges, the company said that under the lease agreement, the lessor had to place its four planes due to non-payment.

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