Jet Airways shares nosedive 41% in a day as grounded airline lands in bankruptcy court
New Delhi, June 19 -- Shares of Jet Airways (India) Ltd crashed nearly 53% during the day before closing 41% lower at Rs.40.45 apiece on Tuesday a day after lenders decided to initiate bankruptcy proceedings against the debt-laden airline. This is Jet Airways' steepest-ever single-day fall as the consortium of lenders led by the State Bank of India (SBI) chose to refer the carrier to the National Company Law Tribunal (NCLT)....
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