In the stock market, its shares have risen by the Hinduja brothers’ hope to invest in Jet Airways. At present, it has risen from 6.46 percent to 160.5 rupees. The Hinduja Group is assessing investment opportunities in Jet Airways. It is notable that Jet Airways, a private sector airline, struggling with a cash crisis, has stumbled for nearly a month.
The alliance of the State Bank of India is trying to re-establish the airline. The Civil Aviation Ministry has temporarily given the airline slots to other airlines at different airports.
Started talks with banks
Hinduja Brothers – GP Hinduja and Ashok Hinduja have started negotiations with the consortium of banks led by SBI Capital Market. Naresh Goyal, the founder of Jet Airways, is also in agreement with the Hinduja brothers. Naresh Goyal and Hinduja brothers have long been in the relationship for more than two decades.
Britain’s richest man
The Hinduja brothers have recently been crowned as Britain’s richest person. The total assets of both brothers are £ 22 billion. To revive the jet, they can easily invest up to 15 thousand crore rupees.
Etihad will invest only 1700 crores
Etihad will invest Rs 1700 crores for a 24% stake in Jet Airways. He has also made it clear that he will not fulfill Jet’s liability. He has told the banks to forfeit 70-80 percent of debt in the 8500 crore loan.