Several hundred staff gathered outside the airline’s headquarters in Mumbai on Thursday asking for justice.
Jet’s stock fell more than 32% to 162.15 rupees on the Bombay Stock Exchange on Thursday. It was worth more than four times that a year ago. The State Bank of India-led consortium is looking to sell a controlling stake in Jet and has shortlisted four potential buyers, including Etihad Airways, which already owns 24%.But until then, the carrier’s remaining fleet is grounded, with a final flight from Amritsar to Mumbai landing in the early hours of Thursday.
A collapse of Jet, and the loss of more than 20,000 jobs, would deal a blow to Prime Minister Narendra Modi’s pro-business reputation as he seeks a second term in ongoing national elections.
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