Jet Airways (Jet) shares surged 8.26 per cent to Rs 178.85 on reports that banks have decided to sanction loans to ailing airlines. As per reports, Jet has been sanctioned a loan worth Rs 700-800 crore from a consortium of public sector banks including Punjab National Bank and State Bank of India.
Jet had reported a net loss of Rs 384.5 crore in the second quarter of the financial year 2008-09 and Rs 553 crore over the last four quarters. The stock made an intraday high of Rs 183 and a low of Rs 158.05, with trading volumes of 3.8 lakh shares.