Jet Airways flies high on plan to operate additional flight services to Dammam

17 May 2016

Jet Airways (India) is currently trading at Rs. 665.60, up by 3.75 points or 0.57% from its previous closing of Rs. 661.85 on the BSE.

The scrip opened at Rs. 663.05 and has touched a high and low of Rs. 670.25 and Rs. 652.50 respectively. So far 229480 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. 670.25 and Rs. 644.00 respectively. The current market cap of the company is Rs. 7534.91 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 will operate additional flight services to Dammam from next month enhancing its connectivity to Saudi Arabia. The company will introduce the new daily services to Dammam, one each from Delhi and Mumbai, starting with effect from June 9.

Besides from the two metro cities, Jet Airways also operates flights from Thiruvananthapuram, Kochi and Kozhikode. The company currently operates flights to 10 cities across the Gulf from 12 airports in India.

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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