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Amid reports of securing loan worth over Rs 2,000 cr from PNB, Jet Airways shares jump over 4 per cent

According to a report, the airline has raised loan worth Rs 1,100 crore and a non-fund based credit facility of Rs 950 crore from PNB.

Reported by: PTI, New Delhi [ Published on: March 11, 2019 14:06 IST ]
Image Source : PTI

Jet Airways shares jump over 4 per cent 

Shares of Jet Airways gained over 4 per cent Monday amid reports that the cash-strapped airline has secured a loan worth over Rs 2,000 crore from Punjab National Bank (PNB). Intra-day, the stock rose 4.68 per cent to a high of Rs 254.50 on BSE.

Similarly, on NSE, the scrip rose to an intra-day high of Rs 255, up 4.83 per cent.

According to a report, the airline has raised loan worth Rs 1,100 crore and a non-fund based credit facility of Rs 950 crore from PNB.

It said the loan has been raised through two separate agreements with the state-run bank. Under one agreement, Jet Airways received a credit facility of Rs 1,050 crore, and a non-fund based facility of Rs 700 crore.

The other agreement has a credit facility of Rs 1,000 crore that includes a term loan of Rs 750 crore and a non-fund based facility of Rs 250 crore, the report added.

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