The administration of Jet Airways and the protesting pilots settled on a contract late Saturday after which the pilots agreed to cancel their five-day strike.

The argument between the Jet Airways administration and its pilots carried on for the 3rd day with flights getting interrupted and the airline loosing nearly Rs.30crore each day.

The stock dropped 13.10% to witness the day’s low of Rs.221.80 on the BSE.

Jet Airlines on Wednesday called off more than 100 Indian and international flights running from several cities with its pilots’ strike carrying on for the second day.

1.19lakh shares have been traded on BSE in the counter as opposed to a standard everyday volume of 1.78lakh shares in the last single quarter.

The National Aviators Guild has resolved to cancel its planned strike remonstrating against the dismissal of two of their senior colleagues by the airline’s administration.

Jet Airways, Kingfisher Airlines and SpiceJet soared. Reportedly, after seeing a two-year low, air prices are expected to increase by 10% in September.

Jet Airways (India) Ltd yesterday asked for time till 7th September from the labor commissioner’s office to review the registration papers of the NAG, a fresh pilots’ union constituted in July.

Reportedly, Jet Airways stated that it will commence daily services on the Delhi-Hong Kong route aboard high-tech wide-body Airbus 330-200 airliner starting from 30th September.

Reportedly, Jet Airways stated that it will introduce every day services on the Delhi-Hong Kong division on board high-tech wide-body Airbus 330-200 airliner from 30th September this year.