Shares of Jet Airways sunk over 23% to a record low on Thursday after India’s largest stock exchange said the carrier would soon no longer be traded in the derivatives market, while day-trading in the stock would also be barred, in a bid to curb speculative trading in the troubled company. At its lowest in the current trading session, the stock had fallen as much as 65% since the airline shut down its operations in April after failing to secure funds from its lenders to keep it afloat. As a “preventive surveillance measure”, Jet’s security will be moved to the ‘trade for trade’ segment, NSE said in a circular late Wednesday. This means that a buyer of the stock can only sell shares purchased two days after the purchase date, and no longer trade those shares intraday, reducing speculation in the stock. The move also means that circuit breakers will soon apply on the stock, meaning any downside or upside will be limited to 5% initially and thereafter it could widen depending on trading patterns. One market source said the NSE’s moves have triggered a sharp drop in the stock, as speculative traders are exiting, ahead of the new limitations going into effect on June 28.<br/>
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Southwest is delaying expectations for return of the Boeing 737 Max, which remains grounded after two deadly crashes. Southwest, which has 34 Max jets, said Thursday that it removed the plane from its schedule for an additional month, through Sept. 2. That's causing Southwest to cancel about 100 flights a day. The airline says it is waiting for more information from Boeing and the Federal Aviation Administration about changes to flight software and pilot training. Southwest says it's still confident the plane will be safe once the FAA approves Boeing's changes.<br/>
Low-cost carrier Nok Air has named Wutthiphum Jurangkool its CE. He succeeds Piya Yodmani, who vacated the role in August 2018. In the interim, Pravej Ongartsittigul was appointed acting CE. Meanwhile, Ongartsittigul was named chairman of the company's executive committee. Both appointments take effect immediately.<br/>
Hainan Airlines Holding will move eight Boeing 737-800s and four Airbus A319s to a holding company based in Hong Kong. Hainan’s subsidiary Air Changan will similarly be moving four A319s to the Hong Kong-based holding company, in a combined deal worth CNY2.76b ($399m). The move comes as the company plans to dispose of aircraft more than 10 years old, according to a Shanghai Stock Exchange disclosure. The removal of the older aircraft will also help reduc operating costs, the disclosure adds. The company did not specify which group airlines aircraft will come from.<br/>