The shares of domestic airline Jet Airways, which is trying to return to the runway, have hit a lower circuit for the third consecutive day on 23 November. It has lost 15 percent in these three days and has now slipped to a one-year record low. It has just fallen 30 percent in a month. Now it is available on BSE at the price of Rs.65.95.
Let us tell you that the company is struggling with financial pressures and it is constantly trying to come back on track but is not succeeding. In the second quarter of FY 2023 July-September 2022, the company's loss increased from Rs 60.78 crore to Rs 308.24 crore on an annual basis.
Jet Airways has gone bankrupt
About three years ago in the year 2019, Jet Airways was shut down due to bankruptcy. In October 2020, an auction was held to save it, which was won by the Jalan-Kalrock consortium, but there is no improvement in the health of the company. Jalan Kalrock Consortium has approached the NCLAT (National Company Law Appellate Tribunal) for its inability to pay the additional amount of PF and gratuity dues of Rs 250 crore.