Wednesday, June 12, 2019

‘Cheque is ready’: AdiGro Aviation founder still interested in Jet Airways

AdiGro Aviation continues to be interested in investing in Jet Airways but is waiting to hear from Etihad Airways with whom it was in talks, said a senior official.

A part of the London-based AdiGroup, AdiGro Aviation earlier offered to invest Rs 2,500 crore for 24.9 percent stake in Jet Airways, as a part of the talks that involved Etihad Airways and Hinduja Group to revive the Indian airline.

Jet Airways suspended its operations on April 17.

"We are interested but can't do it alone. We need an operator to operationally turn around the company," AdiGroup founder Sanjay Viswanathan told Moneycontrol.
"Etihad is the linchpin in this. We are waiting to hear from it," added Viswanathan.

He, however, added that if Etihad did not get involved, AdiGro would explore opportunities with other operators. "There are three operators who are willing to partner us," he said.

While reiterating that time is of essence, Viswanathan said, "My cheque is ready. I am happy if the banks take even 75 percent haircut, instead of 85-90 percent."
12/06/19 Prince Mathews Thomas/Moneycontrol.com

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