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Jet Airways faces crisis; stock slips 52-week low

Jet Airways
Jet Airways

Shares of financial crisis-hit India’s international airline Jet Airways have recorded a 14 per cent decline on Friday (10) and touched their 52 week low in the morning trade after Jet Airways post-phoned announcing the data on financial performance of the company for the first quarter of the financial year 2018-19.

On benchmark Bombay Stock Exchange (BSE), stock of Jet Airways was seen trading at 3.15 GBP, a fall of 8.12 per cent when compared to its previous close as of 14.58 IST on Friday (10). Earlier, the company stock was opened on a negative note at 3.08 GBP per stock and touched its low of 2.97 GBP and a high of 3.24 GBP.

The board of directors of the company have not decided to review the un-audited financial performance of the company for the first quarter of the financial year 2018-19, company said in a BSE filing on Thursday (9) late night.

The company shares recorded a same trend on India’s National Stock Exchange where the stock recorded a fall of 14.49 per cent to its 52 week low of 2.93 GBP from its previous close.

The company shares are on a downward movement for the last six continuous sessions and have moved down by 21 per cent since August (2). The stock has recorded a decline of 69 per cent since start of this year.