Thursday, May 16, 2019

Jet Airways lenders and Etihad keen to issue boarding pass to Hindujas

Mumbai: Lenders to Jet Airways and its second-largest shareholder Etihad Airways have approached the Hinduja Group offering a stake in the grounded airline, said people close to the development, adding that exploratory talks are on.
The Hinduja Group has so far not given a clear commitment about investing in Jet, but began showing interest after Etihad representatives approached SP Hinduja, the elder brother, who heads the group. The senior Hinduja, in turn, put Etihad in touch with Ashok Hinduja, the younger brother, who leads the India business.
“The Hinduja Group is non-committal (on Jet), but will keep its options open,” a senior executive told ET. He said the group will meet Etihad executives and Jet’s lenders in the coming days, but added that no date has been fixed yet.
The person, however, clarified that no formal meeting or dialogue has taken place yet.
The group globally runs 10 businesses in sectors such as automotive, oil & speciality chemicals, media, IT, power, healthcare and real estate. It owns Ashok Leyland, India’s second-largest truck maker by sales.
16/05/19 Anirban Chowdhury/Economic Times
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