Jet Airways shares pare gains after rising 1%

NEW DELHI: Shares of Jet Airways (India) climbed 1 per cent in morning trade on Thursday after reports emerged that five companies have expressed interest in picking up stakes in the airline.

However, the stock failed to hold altitude and traded with a nominal gain of 0.17 per cent at Rs 263.85 apiece around 9:45 am.

An ET report suggested that five companies have submitted expressions of interest (Eo-Is) in picking up stakes in Jet Airways that have been put on sale by lenders as part of a rescue plan. However, the lenders have extended the Wednesday deadline by two days, in the hope that Etihad Airways, which hasn’t submitted an EoI, will show interest.


Lenders led by State Bank of India have been trying to persuade Etihad, which owns 24 per cent of Jet, to increase its investment to help revive the carrier.

The shares of the company closed 1.14 per cent lower at Rs 260.40 on BSE.