Shares of Jet Airways extended gains to the fifth straight session and rose nearly 6% to a 52-week high.
The company has announced a flat 10% discount on base fares in economy class flight tickets and discounts of up to 15% on premier fares across 44 destinations, in a New Year sale. The sale, which started on Saturday, will end on January 2, the company said.
In its five-session rise, the stock has gained as much as 15%.
The stock is currently trading at Rs803.05, up by Rs45.25 or 5.97% from its previous closing of Rs757.8 on the BSE. The scrip opened at Rs761.95 and has touched a high and low of Rs807 and Rs758, respectively.
Jet Airways is the second largest commercial airline in India with 19% domestic market share (FY17). The domestic segment contributed 45.4%, while the international segment contributed 54.6% to its FY17 revenue.
The company recently signed an ‘Enhanced Cooperation Agreement’ with Air France-KLM wherein customers will benefit from multiple travel options throughout the three partners’ networks spanning 44 cities in India and 106 destinations across Europe.
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