Jet Airways grounded but its investors’ hopes are still flying high
Investors are seen pinning hopes on the outcome of the bidding process for Jet Airways set to end on 10 May
But it seems unlikely that any buyer will cut a deal that has positive implications for existing shareholders
Mumbai: Jet Airways shares have been quite resilient through all the crisis over the past few months. On Wednesday evening, the 25-year-old beleaguered private airline informed stock exchanges that it would suspend operations temporarily. When markets opened on Thursday, Jet Airways’ shares were, of course, in free fall. The stock touched a 52-week low during trading and eventually closed the day 32% down. Still, it does appear that the company’s shareholders think this isn’t really the final call to deboard.
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