Jet Airways has lost nearly 65% in the last 6 months.
Jet Atrevz postponed the announcement of quarterly results on Thursday, which resulted in the company’s stock plunging to 52-week low levels (Rs 261.60). Finally, it closed at Rs 276.40 with a decline of Rs 25.30 or 8.39%.
Experts believe that investors are selling in Jet Airways with the possibility of increasing problems due to the current financial crisis. Recently, the company has been under tremendous pressure due to more debt, dull growth, sharp competition and rising fuel prices. From this, Jet Airways had also decided to cut the salary of its employees, including pilots, which were withdrawn after the protest of employees.
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