Jet Airways Crisis: This ‘Gatbandhan ‘ can save the debt laden airlines

Mumbai, May 22: There is a ray of hope for the debt-laden Jet Airways as Hinduja Group said on Tuesday it was considering a bid for the airlines, boosting shares in the grounded airline by 15 per cent for their best day since January.

 

Hinduja Group would start the process of bidding this week. It is in talks with Jet founder Naresh Goyal and investor Etihad, as well as bankers led by SBI Capital Markets which is leading the search for potential investors

The group is led by billionaire brothers Gopichand and Srichand Hinduja, who were named Britain's wealthiest people for the third time in this year's Sunday Times Rich List. Their interests range from banking and oil and gas to power.

Meanwhile, Employees of the airlines protested on Tuesday outside the Civil Aviation Ministry demanding revival of the airline and payment of their pending salaries.

Around 200 employees of Jet Airways demonstrated with banners reading "Hear our cry, let 9W fly", "we fly you around, don't let us be on ground", "we have dependents to feed, please don't let 9W bleed" and "a family helps each other for cleaning house". 9W is the flight code for Jet Airways.