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Jet Airways extend losses; says it received communication from authorities
Aug 31, 2018 1:44 AM

Shares of India’s largest full-service airline Jet Airways (India) Ltd fell as much as 2.4 percent to Rs 280, continuing its decline for the third straight session.

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The aviation company says it received communication from the office of Registrar of Companies (RoC) seeking comments and explanations in response to a complaint received by their office.

The airline added it is taking steps to submit its responses and is unable to comment on any media reports on the subject.

The stock had dropped 3 percent on August 21 after a media report that India’s corporate affairs ministry was probing allegations of siphoning of funds at Jet Airways.

The company said at the time it had not received any communication from the ministry.

Jet Airways, part-owned by Etihad Airways, posted its second consecutive quarterly loss on Monday and unveiled a cost cutting strategy. Up to last close, stock had fallen 65.5 percent this year.

Shares were trading at Rs 282.65, down by 1.43 percent at 10.30 am on the BSE.

The Sensex was down by 23 points to 38,667, trading lower after the first hour of trade marked by volatility.

Also, catch all the action and updates in our Market Live blog


First Published:Aug 31, 2018 10:44 AM IST

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