Shares of Indigo, Spicejet hit 52 week high

[Cobra Arbok]

et Airways crashes 30% as airline halts operations; SpiceJet, IndiGo stocks hit 52-week high
Jet Airways shares declined as much as 30.28 per cent and touched an intra-day low of Rs 166.20 against the previous close level of Rs 241.85 on the BSE
BusinessToday.In New Delhi Last Updated: April 18, 2019 | 14:42 IST

Jet Airways shares nosedived 30 per cent in intra-day trade on Thursday
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Shares of ill-fated Jet Airways nosedived 30 per cent in intra-day trade on Thursday after the crumbling airline announced that it would temporarily suspend all its international and domestic flights operations. The decision was taken after State Bank of India-led consortium of lender on Wednesday rejected an immediate Rs 400 crore demand of Jet Airways compelling it to ground operations.

Reacting to the news, Jet Airways shares declined as much as 30.28 per cent and touched an intra-day low of Rs 166.20 against the previous close level of Rs 241.85 on the Bombay Stock Exchange. According to data available with exchange, as much as 37.42 lakh shares changed hands on the counter as compared to two-week average of 15.93 lakh shares.

On the National Stock Exchange, Jet Airways share price was currently trading at Rs 176.85, down 26.47 per cent. The stock opened sharply lower at Rs 216.45 and has touched 52-week low of Rs 158.70.

In a fresh development, the lenders to the airline on Thursday said they were reasonably hopeful of a successful bidding process for stake sale, a day after the cash-starved carrier suspended its operations.

A consortium of 26 lenders led by State Bank of India (SBI), with 51 per cent stake in the debt-trapped airline, has invited bids from potential suitors. The airline will now await the bid finalisation process by SBI and the consortium of Indian lenders.

Also Read: Jet Airways shutdown: Value of JPMiles 'secure and intact', says Jet Privilege

Meanwhile, shares of rival players, SpiceJet and InterGlobe Aviation, surged between 4-15 per cent amid hopes of higher yield due to the capacity shortage caused by the crisis in Jet Airways.

Shares of SpiceJet rallied as much as 15 per cent in intra-day trade and touched 52-week high of Rs 152.60 after the low-cost carrier said it will induct six more Boeing 737-800 NG aircraft on dry lease." We will induct as many as 27 planes in a record time of fewer than two weeks and are hopeful that these inductions will help considerably ease the pressure situation," said Ajay Singh, chairman and managing director of SpiceJet in a statement.

InterGlobe Aviation, parent of IndiGo, shares jumped as much as 4.12 per cent in intra-day and touched fresh 52-week high of Rs 1,650 against previous closing price of Rs 1583.15.
@Nilgiri

 

[Cobra Arbok]

Funny how some Pakistanis believe that closure of Pakistani airspace was solely responsible for bankrupting Jet Airways, which has had problems for years. They also think because Jet Airways is finished, Pakistan's airspace closure somehow hurt India more than Pakistan. What will happen is Indigo or maybe Spice jet will simply buy/lease the remaining Jet Airways planes, and it will be business as usual. The fact that airlines such as Indigo and SpiceJet are doing so well despite the grounding of Boeing 737s contradicts claims that closure of Pak airspace damaged India's economy more than Pakistan's.

 

[hamilcar of carthage]

Funny how some Pakistanis believe that closure of Pakistani airspace was solely responsible for bankrupting Jet Airways, which has had problems for years. They also think because Jet Airways is finished, Pakistan's airspace closure somehow hurt India more than Pakistan. What will happen is Indigo or maybe Spice jet will simply buy/lease the remaining Jet Airways planes, and it will be business as usual. The fact that airlines such as Indigo and SpiceJet are doing so well despite the grounding of Boeing 737s contradicts claims that closure of Pak airspace damaged India's economy more than Pakistan's.

lol i must say make yourself feel good but what happened to air india was pakistan true intent.government had to pour more money you lost so much ask any air indian personnel he will tell you what happened

 

[Cobra Arbok]

lol i must say make yourself feel good but what happened to air india was pakistan true intent.government had to pour more money you lost so much ask any air indian personnel he will tell you what happened

Not as much as PIA lost. PIA reported losses of 2 billion rupees. Air India lost 70 crore. And the difference is compared to how much our airline industry generates, 70 crore is a drop in the bucket. Our Government can easily afford it. Whereas your government can't. The closure of Pak airspace definitely contributed to Pak's economic growth falling from around 4.5% to 3.4%
https://www.thenews.com.pk/print/44...ure-national-institutions-suffer-rs2-55b-loss
https://www.samaa.tv/news/2019/03/a...s-as-numerous-flight-routes-remain-suspended/

 

[hamilcar of carthage]

Not as much as PIA lost. PIA reported losses of 2 billion rupees. Air India lost 70 crore. And the difference is compared to how much our airline industry generates, 70 crore is a drop in the bucket. Our Government can easily afford it. Whereas your government can't. The closure of Pak airspace definitely contributed to Pak's economic growth falling from around 4.5% to 3.4%
https://www.thenews.com.pk/print/44...ure-national-institutions-suffer-rs2-55b-loss
https://www.samaa.tv/news/2019/03/a...s-as-numerous-flight-routes-remain-suspended/

lol are you okay i dont know where you get the figures but air india lost 6 billion as of march 19 yes piaa lost 2.55b now take a long at flight of air india and piaa the difference is huge the losses to air india is proportional

 

[Cobra Arbok]

lol are you okay i dont know where you get the figures but air india lost 6 billion as of march 19 yes piaa lost 2.55b now take a long at flight of air india and piaa the difference is huge the losses to air india is proportional

Can you provide a link? Every source I have seen states a loss of 70 crore, maybe I am missing something. And even if what you say is true, the difference is that 6 billion rupees is a smaller proportion of India's GDP than 2 billion is of Pak's GDP. And the fact that India's other major airlines are making huge profits dispels the notion that India's losses from the airspace closure were as big as what some are making it seem,

 

[hamilcar of carthage]

Can you provide a link? Every source I have seen states a loss of 70 crore, maybe I am missing something. And even if what you say is true, the difference is that 6 billion rupees is a smaller proportion of India's GDP than 2 billion is of Pak's GDP. And the fact that India's other major airlines are making huge profits dispels the notion that India's losses from the airspace closure were as big as what some are making it seem,

a large country with a large population your economy is the same as pakistan a deficit and higher debt china is sucking you dry
https://www.mangobaaz.com/air-india...-and-honestly-they-brought-it-upon-themselves
also convert it to dollar pakistan rupee and indian ruppee has a different rate

 

[Cobra Arbok]

a large country with a large population your economy is the same as pakistan a deficit and higher debt china is sucking you dry
https://www.mangobaaz.com/air-india...-and-honestly-they-brought-it-upon-themselves
also convert it to dollar pakistan rupee and indian ruppee has a different rate

The link you posted says Air India lost almost one billion rupees, less than the 2 billion PIA lost. and even when adjusted for the different rates, Air India's losses are less than PIA's losses as a proportion of both their respective GDPs. So Pakistan was hurt more. And you cannot begin to compare the Indian and Pakistani economy. This quarter India is growing at 7.3 percent according to the IMF, while Pakistan's growth fell to 3.4 percent, partly as a result of the recent Indo-Pak tensions, and that is set to fall to 2.5 percent. And India's CAD and trade deficit with China has decreased. The fact that you say India's economy is the same as Pakistan's economy shows how little you know about economics. The truth is India just overtook the UK and our growth surpasses that of China. It is clear who has lost more on the economic front.

 

[hamilcar of carthage]

The link you posted says Air India lost almost one billion rupees, less than the 2 billion PIA lost. and even when adjusted for the different rates, Air India's losses are less than PIA's losses as a proportion of both their respective GDPs. So Pakistan was hurt more. And you cannot begin to compare the Indian and Pakistani economy. This quarter India is growing at 7.3 percent according to the IMF, while Pakistan's growth fell to 3.4 percent, partly as a result of the recent Indo-Pak tensions, and that is set to fall to 2.5 percent. And India's CAD and trade deficit with China has decreased. The fact that you say India's economy is the same as Pakistan's economy shows how little you know about economics. The truth is India just overtook the UK and our growth surpasses that of China. It is clear who has lost more on the economic front.

you did nt take in account other factors the tennis tournament tourism loss shares prices etc

 

[Cobra Arbok]

you did nt take in account other factors the tennis tournament tourism loss shares prices etc

The tennis tournament is not as much as the 3.2 billion oil refinery by a UAE company that canceled a deal with Pakistan, partly due to the risk of IN activity if the conflict were to further escalate. Oh and we just won hosting rights for the FIFA u-17 woman's cup in 2020, which is a much bigger event.

https://tribune.com.pk/story/1881899/1-pakistan-hopes-secure-3-2b-oil-credit-facility/

 

[hamilcar of carthage]

The tennis tournament is not as much as the 3.2 billion oil refinery by a UAE company that canceled a deal with Pakistan, partly due to the risk of IN activity if the conflict were to further escalate. Oh and we just won hosting rights for the FIFA u-17 woman's cup in 2020, which is a much bigger event.

https://tribune.com.pk/story/1881899/1-pakistan-hopes-secure-3-2b-oil-credit-facility/

lol what does that have to do with piaa we are still getting the saudi oil refinery

 

[Mahmood uz Zaman]

Why we allow Air India to use Pakistani airspace.Air India as of today 20th April 2019 Pakistani airspace for Europe while Pakistan airline can't even cross India for any destination.

 

[hamilcar of carthage]

emergency landing most likely

 

[Enigma SIG]

Not as much as PIA lost. PIA reported losses of 2 billion rupees. Air India lost 70 crore. And the difference is compared to how much our airline industry generates, 70 crore is a drop in the bucket. Our Government can easily afford it. Whereas your government can't. The closure of Pak airspace definitely contributed to Pak's economic growth falling from around 4.5% to 3.4%
https://www.thenews.com.pk/print/44...ure-national-institutions-suffer-rs2-55b-loss
https://www.samaa.tv/news/2019/03/a...s-as-numerous-flight-routes-remain-suspended/

Actually the less PIA keeps in the air; the less loss it makes .

 

[Cobra Arbok]

Actually the less PIA keeps in the air; the less loss it makes .

AIr India isn't much different to be honest. The only reason it's in better shape than Air India is because India has more money to throw at it.