Jet Airways getting ready

about 2 months ago
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Jet Airways is in the green today morning, rising over 3.5% to Rs.85.75, not too far from its 5% UC of the day at Rs.86.90. Its 52-week high stands at Rs.165 and low at Rs.23.50.

There is a buzz around the stock because for the first time since its grounding in 2019, Jet Airways issued a job posting, inviting applications from experienced pilots. This move to employ pilots indicates that the company has set in motion the process to begin operations again.

This comes even as Jet Airways has over 2,800 employees still on its payroll who haven’t quit in hopes to get reabsorbed in the company. BusinessLine had reported that the new owners have given no guarantee to absorb the ex-employees of Jet, neither are the new owners guaranteeing any training for the existing employees.

The new promoters have offered cash and non-cash benefits, including 0.5% equity stake in the airline, to those who were on the rolls of Jet Airways till its insolvency in June 2019.

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