Shares of Jet Airways plunged nearly 19 per cent on Tuesday amid reports that the company is likely to temporarily shut down its operations.

The scrip, which had opened the day on a weak note, further plummeted 18.56 per cent to Rs 213.20 on BSE during the afternoon trade.

At NSE, shares cracked 18.53 per cent to Rs 213.20.

The BSE has sought clarification from Jet Airways (India) Ltd with reference to news that it is likely to temporarily shut down its operations.

Jet Airways is grappling with an acute financial crunch and is operating less than 10 planes besides temporarily suspending international operations.

Civil aviation minister Suresh Prabhu has called for a review of issues related to struggling Jet Airways, including rising fares and flight cancellations.

Prabhu has also asked the civil aviation secretary, Pradeep Singh Kharola, to take necessary steps to protect the rights and safety of passengers.

On Monday, lenders did not take a final decision on providing emergency funds to the cash-strapped carrier.

The airline's board is meeting in Mumbai on Tuesday.