Jet Airways has hit another big air pocket with the National Stock Exchange of India deciding to pull out the shares of the embattled airline from daily trading. The bourse cited the carrier’s failure to respond to queries about rumours in the market. Jet’s securities will now be moved to the trade for trade segment with effect from June 28 as a “preventive surveillance measure”, from the current rolling segment, which allows daily trading.
With most of the top management quitting, it seems there’s hardly anybody left to answer the bourse’s queries. Shares of Jet, once the biggest private airline in India, have more than halved since the airline shut down its operations on April 17. Read more