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Jet Airways gains on plan to increase utilisation of Boeing 737 aircraft

22 Apr 2016

Jet Airways (India) is currently trading at Rs. 619.55, up by 2.85 points or 0.46% from its previous closing of Rs. 616.70 on the BSE.

The scrip opened at Rs 617.00 and has touched a high and low of Rs 622.75 and Rs 615.30 respectively. So far 80709 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 796.00 on 13-Jan-2016 and a 52 week low of Rs. 248.50 on 16-Jun-2015.

Last one week high and low of the scrip stood at Rs 646.50 and Rs 613.20 respectively. The current market cap of the company is Rs 7022.02 crore.

The promoters holding in the company stood at 51.00% while Institutions and Non-Institutions held 38.60% and 10.40% respectively.

Jet Airways has decided to increase the utilisation of Boeing 737 aircraft that are used for flights within India and to neighbouring countries as domestic traffic is growing at over 20% and competition in the full service carrier (FSC) segment is heating up.

In this regard, the airline will hire 400 pilots in the next 18 months so that it has the manpower required to sweat its assets optimally.

Jet currently has a fleet of 116 planes. Last November, it ordered 75 B-737 MAX-8 aircraft, which is Boeing's answer to Airbus' highly successful A-320 Neo. This order includes conversions of 25 next-generation 737s to 737 MAX 8s, as well as options and purchase rights for additional 50 aircraft

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Jet Airways (I) Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323