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Jet Airways shares plunge over 6% after company grounds seven more planes

New Delhi: Shares of Jet Airways fell by over 6 percent on Thursday after the company said seven more aircraft have been grounded due to non-payment of lease rentals.

Shares of the company dropped 6.15 percent to Rs 211 on BSE.

 Jet Airways shares plunge over 6% after company grounds seven more planes

Representational image. Reuters.

On NSE, the shares slumped 6.30 percent to Rs 210.15.

So far this month, as many as 13 planes of the company have been grounded on account of non-payment of rentals to lessors.

In a filing to the stock exchanges on Wednesday, the full-service airline said, "an additional seven aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements".

Faced with acute financial woes, the airline is looking to restructure its debt as well as raise funds.

On 23 February, the airline said two planes had been grounded. This followed an announcement made to stock exchanges on 7 February that it had grounded four of its aircraft on account of non-payment of lease rentals.

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Updated Date: Feb 28, 2019 12:18:34 IST

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