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Last Updated : May 15, 2019 10:32 AM IST | Source: Moneycontrol.com

Jet Airways hits 52-week low, falls 4%

Etihad Airways, the second largest shareholder of Jet Airways, will retain the 24 percent stake in the beleaguered airline and will further pump in Rs 1,700 crore

Moneycontrol News @moneycontrolcom

Shares of Jet Airways was down more than 4 percent intraday on May 15 after falling to a 52-week low of Rs 121.10 in the morning session.

According to CNBCTV18, Etihad Airways, the second highest shareholder of Jet Airways, will retain the 24 percent stake in the beleaguered airline and will further pump Rs 1,700 crore.

The remaining Rs 4,200 crore needed to kick start the revival plan will be brought in by one or more investors, the report added.

The banks may approach Adi Group and Darwin Group to potentially partner with Etihad for a controlling stake in Jet. However, if the talks materialise NIIF will limit its holding to 20 percent.

In a seperate news, the lenders of Jet and Etihad have reportedly approached Hinduja Group offering a stake in the grounded airline, reported The Economic Times.

Hinduja Group has not yet given a commitment about investing in Jet, however, reports claim that the conglomerate has begun showing interest after Etihad representatives approached GP Hinduja, the elder brother, who heads the group.

AT 1003 hours, Jet Airways was quoting Rs 123.70, down 4.18 percent on the BSE
First Published on May 15, 2019 10:32 am
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