INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Jet Airways plunged almost 7 per cent in morning trade on Wednesday and looked on course to extend its losing streak
into the third successive session.
Shares of the company have been falling in the wake of a series resignations by the company's top brass
CEO Vinay Dube, CFO Amit Agarwal and head of human resources Rahul Taneja quit within a span of 24 hours, raising serious doubts over the
revival of the debt-laden airline.
Meanwhile, media reports suggested that the lenders of the company and Etihad Airways have approached the
Hinduja Group offering a stake in the grounded airline
ET reported that the Hinduja Group has so far not given a clear commitment about investing in Jet, but began showing interest after Etihad
representatives approached GP 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
However, its bid was highly conditional and hinged on the stipulation that it would not own more than 24 per cent (its current shareholding)
It said it would invest only up to Rs 1,700 crore in the airline
Rs 123.95 on BSE around 9:55 am