Jet Airways Stock Zooms 2% As Boeing Likely To Return Part Payment For Aircraft Order

Shares of Jet Airways were trading ~2% higher on Tuesday after a media report suggested that US aircraft manufacturer Boeing is likely to return $200mn to the company.

According to the report, Boeing may return a portion of the amount ($200mn) Jet Airways paid to get 75 Boeing 737 Max aircrafts. Jet Airways had placed an order for the 75 aircrafts in 2015, followed by two more similar orders. This took the total order to 225 aircrafts.

Meanwhile, the company’s board has considered various cost-cutting measures, along with debt reduction and funding options to turn around its business. The measures include a capital infusion and monetization of assets, among other plans.

Jet Airways (India) share price is currently at Rs287.05, up Rs5.25, or 1.86%, from its previous close of Rs281.80 on the BSE. The scrip opened at Rs274.20 and has touched a high and low of Rs290.95 and Rs272, respectively. So far, 1,63,97,546 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs3,201.25cr. Read More

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