Jet Airways jumps 5% on hopes on revival of operations by summer of 2021

MUMBAI: Jet Airways (India) hit the upper circuit as it jumped 5 per cent on hopes the airline will get operational by the summer of 2021.

At 9:43 am, Jet Airways was up 5 per cent at Rs 75.60, while Sensex was trading 0.49 per cent higher at 45,648.27 points.

The consortium of UAE-based businessman Murari Lal Jalan and London's Kalrock Capital - which has won the bid to revive Jet Airways - on Monday said it expects to start operating the airline by the summer of 2021.


The airline will retain the Jet Airways brand.

“As per the resolution plan, Jet Airways intends to operate all of its historic domestic slots in India and restart international operations. If everything goes as per plan and the Consortium receives the NCLT and regulatory approvals on time, Jet Airways would be back in the skies by the Summer of 2021,” said a statement.

The stock has rallied this year on hopes of revival of the airline, and has jumped more than 155 per cent for the year to date, and currently trades mere 4.7 per away from its 52-week high seen on November 5.