Shares of Jet Airways (India) Ltd plunged nearly 19% Tuesday amid reports that the airline is likely to temporarily shut down its operations.
Jet Airways shares, which had opened the day on a weak note, further plummeted 18.56% to ₹213.20.
Jet Airways is grappling with acute financial crunch and is operating less than 10 planes besides temporarily suspending international operations.
Civil aviation minister Suresh Prabhu has called for a review of issuesrelated to struggling Jet Airways, including rising fares and flight cancellations.
Prabhu has also asked civil aviation secretary Pradeep Singh Kharola to take necessary steps to protect the rights and safety of passengers.
On Monday, lenders did not take a final decision on providing emergency funds to the cash-strapped carrier. The airline’s board is meeting in Mumbai on Tuesday.
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