Jet Airways shares extend losses, down 8%

NEW DELHI: Shares of Jet Airways declined 8 per cent in trade on Tuesday and looked on course to extend its losing streak into a third consecutive session.

ET reported this morning that a section of its employees has evinced interest in bidding for the airline and is scouting for investors to get the airline flying again.

The employees have communicated this to State Bank of India Chairman Rajnish Kumar, requesting him to consider their bids, as they try to arrange funding of up to Rs 7,000 crore over time, the report said.


In a letter sent on Monday and reviewed by ET, the employees have said they would come together — with the help of external investors — to revive the carrier.

The employees, however, do not have the support of the current top management, “who the employee representatives feel are still working for promoter Naresh Goyal rather than for the company,” the report said.

Shares of Jet Airways closed 8.37 per cent down at Rs 153.30 on BSE.