Jet Airways Stock Rises 3% on Aircraft Pact

Jet Airways Stock Rises 3% on Aircraft Pact April 4, 2018

New Delhi: Shares of Jet Airways on Wednesday rose as much as 3 per cent in morning trade on the bourses after the company said it had entered a pact for buying 75 B737 planes.

In a regulatory filing on Tuesday Jet Airways said it had entered an agreement with Boeing for buying 75 B-737 Max aircraft, as it looks to strengthen presence in the fast growing domestic aviation market.

Following the announcement, shares of the company opened on a bullish note at Rs 623, then gained further ground to touch an intra-day high of Rs 632.25, up 2.99 per cent over its previous closing price.

ALSO READ:TINY MALE PYTHON AND THE MASSIVE 20FT FEMALE HE WAS MATING WITH ARE KILLED BY HUNGRY VILLAGERS AND CHOPPED UP TO BE COOKED IN A STIR FRY

Last month, Jet Airways CEO Vinay Dube had said the airline is likely to close the order for another 75 narrow-bodied planes shortly.The airline has already placed order for 75 Boeing 737 Max aircraft and their delivery is expected to commence by July-August.

The full service carrier has a fleet of around 119 planes, comprising Boeing 777-300 ERs, Airbus A330-200/300, Next Generation Boeing 737s and ATR 72-500/600s.

ALSO READ:5 LITERARY FESTIVALS IN INDIA YOU MUST EXPLORE IN 2018

Loading...

No Comments so far

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.

Only registered users can comment.