INSUBCONTINENT EXCLUSIVE:
Shares of Jet Airways jumped nearly 2 per cent in early trade on Monday following reports that founder-chairman Naresh Goyal is likely to
rope in Etihad Airways to further invest in its equity in a bid to overcome the financial crisis that is currently enveloping his
airline.
It has been reported that in order to save his airline, Goyal is willing to consider handing over the operational reins to the
Middle Eastern carrier in exchange for a fresh cash infusion through equity and soft loans
The scrip was trading 1.64 per cent up at Rs 313.85 at around 09.34 am, while the benchmark BSE Sensex was up 0.12 per cent at 35,021.81
The company had posted its third consecutive quarterly loss and said it was undertaking a review of its business to cut costs and boost
revenues in order to stay afloat
The airline is seeking funds by raising equity and selling a stake in its loyalty programme
Jet Airways opened at Rs 316.25 on BSE against its previous closing of Rs 308.80
