homemarket Newsstocks NewsJet Airways in tailspin over CFO exit, bid viability, stock plunges 13%

Jet Airways in tailspin over CFO exit, bid viability, stock plunges 13%

Jet Airways in tailspin over CFO exit, bid viability, stock plunges 13%
Profile image

By CNBC-TV18 May 14, 2019 10:01:01 AM IST (Updated)

Shares of Jet Airways plunged 13 percent intra-day soon after the company’s Chief Financial Officer resigned effective immediately.

Shares of Jet Airways plunged 13 percent on Tuesday after the company’s chief financial officer (CFO) resigned with immediate effect citing personal reasons. Jet shares fell as much as 13.01 percent to Rs 121 per share intra-day on the NSE.

Recommended Articles

View All

At 09:30 AM, the stock price was down 7.33 percent to Rs 128.90 per share. The Nifty 50 was down 0.06 percent at 11,141.20.
Jet Airways
“We wish to inform you that Mr Amit Agarwal, deputy chief executive officer and chief financial officer of the company has resigned from the services of the company due to personal reasons, with effect from 13 May 2019,” Jet Airways said in a statement.
CNBC TV18 on Monday reported that Etihad Airways has offered fresh equity infusion to the extent of Rs 1,700 crore if its conditions are met.
Sources privy to the developments told CNBC-TV18 that Etihad Airways has once again reiterated that it will not participate in any open offer, and will therefore not take its stake beyond 24 percent that it currently holds.
The cash-strapped airlines grounded its operations on April 17 citing financial distress.
Catch all the latest and live updates here on CNBC TV18 Market Live Blog.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng