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Last Updated : May 16, 2019 12:16 PM IST | Source: Moneycontrol.com

Jet Airways turns green after 3-day losing streak, share surges 4%

Reports suggest that lenders of Jet Airways will begin reaching out to unsolicited bidders for the grounded airline

Moneycontrol News @moneycontrolcom

Shares of Jet Airways added more than 4 percent after Darwin Group reportedly offered Rs 14,000 crore to acquire the grounded airline.

The Mumbai-based company reportedly met with SBI-led consortium of lenders on May 15 to discuss Group's unsolicited bid for crisis-hit Jet Airways.

Darwin Group's mega offer is to take over the entire liabilities of the beleaguered carrier, said CEO of the company, Rahul Ganpule.

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Reports further suggest that lenders of Jet Airways will begin reaching out to unsolicited bidders for the grounded airline after Etihad Airways declined to raise its stake beyond the current 24 percent.

So far, the lenders have reportedly reached out to Hinduja Group and AdiGroup to revive the cash-strapped airline, with the latter showing interest after Etihad representatives approached GP Hinduja, the elder brother, who heads the group.

The shares of Jet Airways were trading in the green after three consecutive sessions of losses.

At 1204 hours, Jet Airways was quoting Rs 129.15, up 4.41 percent on the BSE.

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First Published on May 16, 2019 12:16 pm
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