This is why Jet Airways gave over 9% gains today to investors

The share price of Jet Airways, which is virtually seeing doomsday since the last few months, today saw quite an exciting uptrend in its stock price.

The company has gained over 9.11% by touching an intraday high of Rs 233.45 per piece on Sensex. However, at around 13:22 hours, the airline's share price was trading at Rs 231.75 per piece up by Rs 17.80 or 8.32% on the index. The reason behind the uptick in stock was due to clarification the Jet Airways provided after being questioned by BSE. A media report was had alleged, " Jet Airways defaults on lease rentals, receives notice from Air Authority of India on dues."

Jet Airways gave the clarification saying that, "The company is actively engaged with all its partners including lessors & airport operations and regularly providing them updates on efforts undertaken by the company to improve its liquidity."

The company clarified that, "Our partners understand the challenges faced by the Indian Aviation Industry and have been supportive of the companies effort."

Jet Airways further added that, "The company is committed to make appropriate disclosures, in accordance with regulation 30 of SEBI Regulations, 2015, of those events /Information that have a bearing on the operation/ performance of the company, applying guidelines for materiality of events, where applicable."

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According to the report by Business Standards, "Jet Airways has defaulted on payments to aircraft lessors and has been served show cause notice by the Airports Authority of India (AAI) for payment delays. Lessors have also served notices for payment default and indications are the airline may return five-seven of its older Boeing 737 planes to resolve the dispute, said sources."