'Guilty and embarrassed': Jet Airways boss sorry for share price erosion

Naresh Goyal said Rs 6.36 bn loss in last fiscal was due to an increase in cost beyond the control of the company

Jet Airways Chairman Naresh Goyal has apologised to shareholders for the losses they suffered because of the sharp erosion in the airline’s share price.

Shares of India's second-largest domestic airline hit a 52-week low of Rs 286.95 in intra-day trade on Thursday — it closed at Rs 301.7. On a year-to-date basis, the stock has tanked 63.7 per cent, highest fall among aviation stocks. IndiGo and SpiceJet stocks, meanwhile, were down 11.7 and 38.6 per cent, respectively, during the same period.

“A lot of shareholders have lost money. I felt guilty and embarrassed,” Goyal told shareholders after listing out measures