Shares of Jet Airways fall 15% in 3 days as headwinds intensify

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Carrier Jet Airways is on shaky ground and its shares fell more than 15 percent in three days, the exchange revealed BSE on Wednesday. Many developments related to the airline have taken place in a span of 1-2 weeks.



According to reports, the aviation security agency BCAS revoked the accreditation of Jet Airways’ aviation security training facilities on Wednesday, while the airline temporarily cut the salaries of some staff by up to 50 percent last Monday and sent some on unpaid leave.

In five days, shares of the airline, which currently stand at Rs 65.55 apiece, fell nearly 18 percent, while shares fell 30.74 percent over the past month. The stock fell 45.01 percent over the past six months.

To add another hurdle to the headwind, the aviation security agency Bureau of Civil Aviation Security (BCAS) has withdrawn the accreditation given to Jet Airways’ aviation security training facilities amid ongoing uncertainty about the airline’s resumption of operations. airline.

“The Authority has withdrawn the accreditation granted to both Aviation Security Training Institutes (ASTIs) of Jet Airways up Gurugram and Mumbai. The airline may reapply for approval of its ASTIs once it is ready for inspection…,” BCAS said in a statement.

According to reports, the Jalan Kalrock consortium has emerged as the winning bidder for the bankrupt airline through insolvency proceedings.

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