Moneycontrol
Get App
Last Updated : May 21, 2019 07:35 PM IST | Source: Moneycontrol.com

Evaluating Jet Airways opportunity: Hinduja Group

A Hinduja spokesperson confirms the report.

Prince Mathews Thomas @prince0879

The Hinduja Group is considering investing in Jet Airways, a senior official said on Tuesday, as reports surfaced that the conglomerate may hold meetings with lenders later this week.

"Hinduja Group is evaluating the Jet Airways opportunity," a spokesperson told Moneycontrol. But, he declined to give further details.

Reports on Tuesday said that the Group had got the backing of Jet Airways founder Naresh Goyal and Etihad Airways, which owns 24 percent stake in the Indian carrier.

Close

Etihad Airways is the only shortlisted bidder who put in a proposal for Jet Airways. But, the Abu Dhabi-based airline wants to have a minority stake and has committed to put in Rs 1,700 crore. Given Jet Airways liabilities, including over Rs 8,000 crore in debts, more equity is needed to revive the airline.

Jet Airways suspended operations on April 17.

Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
First Published on May 21, 2019 01:43 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant