<p class="title">Jet Airways Ltd's shares rose about 6 percent on Wednesday to a near 10-week high, after a top aviation ministry official ruled out grounding more planes and said the carrier would fly 40 more aircraft by the end of April.</p>.<p class="bodytext">Jet is in talks with leasing companies to restart operating several of its grounded aircraft, Pradeep Singh Kharola, secretary at the civil aviation ministry, told a news conference on Tuesday.</p>.<p class="bodytext">The airline has had to ground more than two-thirds of its fleet as it struggles to pay lenders, suppliers, pilots and leasing companies.</p>.<p class="bodytext">Saving Jet is crucial for Prime Minister Narendra Modi as he looks to avoid thousands of job losses ahead of a general election. His government had urged state-run banks to rescue the airline, sources have told Reuters.</p>.<p class="bodytext">Earlier this week, Jet Chairman and founder Naresh Goyal stepped down from the company's board with lenders seizing control in a bid to save the airline from bankruptcy. Jet has a debt of over $1 billion.</p>.<p class="bodytext">Under the rescue plan, Jet's lenders, led by State Bank of India, will issue a loan of 15 billion rupees ($217.73 million) to meet the airline's obligations and will form an interim management committee to oversee operations.</p>.<p class="bodytext">Jet's shares have lost over 56 percent of their value in the past year as of Tuesday's close.</p>
<p class="title">Jet Airways Ltd's shares rose about 6 percent on Wednesday to a near 10-week high, after a top aviation ministry official ruled out grounding more planes and said the carrier would fly 40 more aircraft by the end of April.</p>.<p class="bodytext">Jet is in talks with leasing companies to restart operating several of its grounded aircraft, Pradeep Singh Kharola, secretary at the civil aviation ministry, told a news conference on Tuesday.</p>.<p class="bodytext">The airline has had to ground more than two-thirds of its fleet as it struggles to pay lenders, suppliers, pilots and leasing companies.</p>.<p class="bodytext">Saving Jet is crucial for Prime Minister Narendra Modi as he looks to avoid thousands of job losses ahead of a general election. His government had urged state-run banks to rescue the airline, sources have told Reuters.</p>.<p class="bodytext">Earlier this week, Jet Chairman and founder Naresh Goyal stepped down from the company's board with lenders seizing control in a bid to save the airline from bankruptcy. Jet has a debt of over $1 billion.</p>.<p class="bodytext">Under the rescue plan, Jet's lenders, led by State Bank of India, will issue a loan of 15 billion rupees ($217.73 million) to meet the airline's obligations and will form an interim management committee to oversee operations.</p>.<p class="bodytext">Jet's shares have lost over 56 percent of their value in the past year as of Tuesday's close.</p>