New Delhi [India]: Indian air carrier Jet Airways is on a shaky ground after a number of negative developments pertaining to the airlines.
Its shares have declined more than 15 per cent in three days.
According to reports, the aviation security agency BCAS on Wednesday withdrew accreditation given to Jet Airways’ aviation security training facilities while last Monday.
“The competent authority has revoked the accreditation granted to both the Aviation Security Training Institutes (ASTIs) of Jet Airways at Gurugram and Mumbai. The airline may apply afresh for approval of its ASTIs as and when it is ready for inspection…,” BCAS said in a communication.
The decision was taken due to delay in the airline’s operations taking-off.
In another development, the airline temporarily cut the salaries of some staff by up to 50 per cent and some were sent on leave without pay.
In five days, the shares of the airline, which is currently at Rs 65.55 apiece, went down by almost 18 per cent while its shares declined 30.74 per cent in the past one month.
Its shares had been dropping by 45.01 per cent in the past six months.