Shares of Jet Airways continued to trade weak Thursday, falling over 6 per cent after the crisis-hit firm defaulted on repayment of loans to a consortium of Indian banks.
The stock tumbled 6.41 per cent to close at Rs 246.85 on BSE. During the day, it plummeted 7.1 per cent to Rs 245.
At NSE, shares of the company plunged 6.20 per cent to end at Rs 247.20.
Shares of Jet Airways had tumbled nearly 7 per cent Wednesday also.
The full service carrier, which has been grappling with financial woes for some time now, has been making delayed salary payments to its staff.
"Payment of interest and principal installment due to the consortium of Indian Banks (led by State Bank of India) on December 31, 2018 has been delayed due to temporary cashflow mismatch," the airline said in a filing to the stock exchanges late Tuesday.
Rating agency Icra Wednesday downgraded its ratings on the airline's long-term and short-term fund facilities.
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