Jet Airways shares dive 7 per cent on salary concerns

​New Delhi: Shares of Jet Airways faced heavy selling pressure on Friday, tumbling 7 per cent amid concerns over its financial health.

The stock dived 7 per cent to settle at Rs 308 on BSE. During the day, it slumped 9 per cent to Rs 301.25. On NSE, it plunged 6.90 per cent to close at Rs 308.30. The company's market valuation fell by Rs 263.2 crore to Rs 3,498.80 crore on BSE.

In volume terms, 21.85 lakh shares of the company were traded on BSE and over 2 crore shares changed hands on NSE during the day. Jet Airways pilots and management are on a war path over salary reductions and possible job cuts at various departments.