|Bid||94.50 x 0|
|Ask||95.45 x 0|
|Day's Range||94.00 - 96.80|
|52 Week Range||13.00 - 165.00|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||261.50|
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Once India's biggest private carrier, Jet stopped flying in April 2019 after running out of cash, owing billions to lenders and leaving thousands without jobs. The defunct airline had said in June that the National Company Law Tribunal (NCLT) approved a resolution plan submitted by a consortium of London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan. The bankruptcy court's go-ahead came several months after Jet's creditors had given their approval in October last year to the resolution plan submitted by the consortium.
India's Punjab National Bank on Thursday urged a tribunal to quash the rescue plan for defunct debt-laden Jet Airways, alleging irregularities in it, a move that risks delaying any return of the airline grounded two years ago. A consortium of London-based Kalrock Capital and a UAE-based businessman last year agreed to pump in 10 billion rupees as working capital and give funds to creditors of Jet, which was hit hard due to piling up debt in 2019. PNB, the court-appointed official in charge of Jet's revival, Ashish Chhawchharia, and a spokesperson for the consortium investing funds into the collapsed airline did not respond to requests for comment.
Indian billionaire Rakesh Jhunjhunwala's plan to launch an ultra-low-cost airline, could give planemaker Boeing a chance to regain lost ground in India after the fall of one of its biggest customers, Jet Airways, two years ago, industry executives say. Jhunjhunwala, known as "India's Warren Buffett" for his successful stock investments, plans to team up with former CEOs of IndiGo, the country's biggest carrier, and Jet Airways to tap into demand for domestic air travel. While Jhunjhunwala's Akasa Air comes at a time when India's aviation industry is reeling from the impact of the pandemic, with airlines losing billions of dollars, the sector's long-term prospect makes it a hot market for planemakers Boeing and Airbus.