Jet Airways Rises Over 4% As Board Decides To Meet On August 27 For Quarterly Results

Shares of full-service carrier Jet Airways Ltd rose as much as 4 per cent in morning trade on Friday after the airline's board decided to meet on August 27 to approve financial results for the quarter ended June 30. At 11:08 am, shares in the company were trading at 305.25 with a gain of 4.80 points or 1.60 per cent. The airline had delayed its quarterly results earlier this month, sending its shares to a three-year low, reported news agency Reuters.

The airline, which is partly owned by Etihad Airways, has been facing financial troubles, although it said earlier this month that it remains confident of being able to cut costs and keep flying despite reports that it had warned staff it was running out of cash.

Jet Airways currently operates flights to 66 destinations, including India and overseas. Beyond India, Jet Airways operates flights to key international destinations in South East Asia, South Asia, Middle East, Europe and North America. The Jet Airways Group currently operates a fleet of 120 aircraft, comprising Boeing 777-300 ERs, Airbus A330-200/300, the latest Boeing 737 Max 8, Next Generation Boeing 737s and ATR 72-500/600s, according to a press release issued by the carrier.

Meanwhile, the domestic stock markets started Friday's session on a green note, supported by broadly positive cues from the global markets. At 11:19 am, the S&P BSE Sensex traded at 37,969.99, up 306.43 points or 0.81 per cent and the broader Nifty50 was trading at 11,474.35, with a gain of 89.30 points or 0.78 per cent.