Jet Airways gains on plan to sell three airbus A330 planes

Jet Airways is currently trading at Rs. 247.00, up by 1.65 points or 0.67% from its previous closing of Rs. 245.35 on the BSE. The scrip opened at Rs. 245.50 and has touched a high and low of Rs. 248.40 and Rs. 245.00 respectively. So far 29,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 556.00 on 29-May-2013 and a 52 week low of Rs. 210.25 on 05-Feb-2014. Last one week high and low of the scrip stood at Rs. 303.95 and Rs. 243.00 respectively. The current market cap of the company is Rs. 2,805.00 crore. The promoters holding in the company stood at 51.00% while Institutions and Non-Institutions held 9.09% and 39.91% respectively. Jet Airways, the country’s premier international airline is planning to sell three of its airbus A330 aircraft. The company is looking at refinancing high-cost rupee debt. The company’s consolidated debt as on March 31, 2014 stood at Rs 10,576 crore. The private carrier posted its highest-ever net loss of Rs 2,154 crore in the fourth quarter ended March 31, impacted by higher operating expenditure and exceptional costs. The country’s second largest carrier had reported a net loss of Rs 496 crore during the same quarter a year ago. Jet Airways currently operates a fleet of 112 aircraft, which include 10 Boeing 777-300 ER aircraft, 8 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 72 next generations Boeing 737-700/800/900/900 ER aircraft and 15 ATR 72-500 and 3 ATR72-600.