Jet Airways shares plunged Thursday, battered by fears about whether the grounded airline would fly again, even as carriers like rival SpiceJet rushed in to plug a supply gap in the wake of their rival's demise. Once India's largest private airline, Jet halted all flight operations indefinitely Wednesday evening after lenders led by State Bank of India declined to extend more funds to keep the carrier going. Investors punished Jet shares Thursday, driving them down 34% in their biggest intraday fall. The company is worth about US$260m now, versus $1.6b at its peak in 2005. While lenders are "reasonably hopeful" a bidding process for an up to 75% stake in the airline will end successfully, analysts are much more sceptical. "I think the bidding process is going to fall apart," said HDFC Securities analyst Madhukar Ladha. <br/>