Jet Airways Surges For Second Day As Board Approves Resolution Plan

Jet Airways share price surged for second day in a row, rising as much as 8.80 per cent to Rs 276.90 on the BSE after its board of directors and lenders reached a resolution plan to save the cash strapped airline from falling into bankruptcy. Jet Airways' board of directors approved converting lenders' debt into equity by issuing 11.4 crore shares at 1 rupee to a consortium of banks led by the State Bank of India, the company said in...