Jet Airways stock rallies nearly 3% on JetLite stake sale buzz
According to ET Now, some equity if not the whole of JetLite, which is the low cost arm of Jet Airways and flies under the name JetKonnect, may be sold.
By ET Online | Updated:
NEW DELHI: Jet Airways Ltd stock rallied as much as 2.83 per cent after reports surfaced that the company is planning to sell stake in its low-cost subsidiary JetLite.
According to ET Now, some equity if not the whole of JetLite, which is the low cost arm of Jet Airways and flies under the name JetKonnect, may be sold.
Sources told ET Now that Jet is planning a major overhaul of fleet, products and plans to be profitable by 2017.
Jet Airways suffered Rs 4,130 crore loss in FY14.
The stock of Jet Airways closed at Rs 252.15 up 1.29% on the BSE. It touched an intraday high of Rs 256 and a low of Rs 246.35.
According to ET Now, some equity if not the whole of JetLite, which is the low cost arm of Jet Airways and flies under the name JetKonnect, may be sold.
Sources told ET Now that Jet is planning a major overhaul of fleet, products and plans to be profitable by 2017.
Jet Airways suffered Rs 4,130 crore loss in FY14.
The stock of Jet Airways closed at Rs 252.15 up 1.29% on the BSE. It touched an intraday high of Rs 256 and a low of Rs 246.35.
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