The management of cash-strapped Jet Airways (India) Ltd will take a final call by end of the day on whether to continue operations or opt for a temporary shutdown even as the airline makes last-ditch efforts to raise funds, people familiar with development at the Jet board meeting said Tuesday.
All options would be explored before deciding on its operations, said the people. All efforts are being made and operations would continue till all options are exhausted, said the people. The final call would be taken by the end of the day, they added.
The reports from the BSE shows that the shares from the Jet Airways India crashed to about 19%. Jet Airways shares, which opened the day on a weak note, plummeted 18.56% to ₹213.20 in afternoon trade on the BSE. The carrier, which was founded more than 25 years ago, has already suspended international operations till 18 April.
On Monday, Jet Airways CEO Vinay Dube said the lenders could not decide on interim funding and that the airline’s board would meet on Tuesday to take a call on the future.