Share of Jet Airways trade marginally lower as lender prepares to invite bids

Recouping early losses, shares of Jet Airways were trading marginally lower Friday morning as lenders prepare to invite bids for stake sale in the ailing airline. The scrip was down at Rs 259.15 after opening at Rs 264 on the BSE. A similar trend was witnessed on the NSE where the company's share price fell to Rs 258.85 apiece. It had opened at Rs 260.95 on the broader index.

As uncertainty continues over the future course for the airline, the consortium of lenders on Thursday said bids for selling stake would be invited on April 6 and other options would be explored in case the stake sale efforts do not result in an "acceptable outcome". The consortium of domestic lenders, led by State Bank of India, had also said that they would pursue a resolution plan for the carrier in a time-bound manner under the present legal and regulatory framework.

The acute financial crunch has forced the airline to ground aircraft, cancel flights and delay payment of salaries, including to pilots.

(With inputs from agencies.)