Will the return of Jet good days? Hinduja Group showed interest||AllBestNews||

Will the return of Jet good days? Hinduja Group showed interest

The Hinduja Group has shown interest in Jet Airways, a private sector airline, which is struggling with financial crisis.

Britain's wealthiest business group, Hinduja, has shown interest in buying the airline airline Jet Airways, a company that is temporarily closed. The Hinduja Group issued the statement saying that he is looking for opportunities in Jet Airways. In such a situation, speculation has been begun to buy a large stake in Hinduja Group's Jet Airways.

Jet Airways currently owns 24 per cent stake in the Gulf country's airline, Etihad, and is the second-largest shareholder in the company. Etihad's proposal to invest in Jet Airways is definitely but he is not ready to be the chief investor. According to investors, to run Jet, it will need capital of up to Rs 20,000 crore in the next three years.

Control near banks

Presently, Jet Airways is headed by the State Bank of India led by the State Bank of India. Jet Airways has a debt of about Rs 8,400 crore. A group of banks wants to sell the airline to recover this loan. This is the reason why the auction process of Jet Airways has started.

A short list of private equity firm TPG Capital, Indigo Partners, National Investment and Infrastructure Fund (NIIF) and Etihad Airways was made to participate in this. These companies presented their Expression of Interest (EOI) but only on 10th May, Etihad offered their tender.

Let's say that Jet Airways, who is struggling with cash crisis, is stopping for nearly a month. The Civil Aviation Ministry has temporarily given the airline slots to other airlines on different airports. Hundreds of employees have joined rival companies in these situations. Meanwhile, the top executives of the company have resigned. These incidents have raised uncertainties about the airline's resumption.

About Hinduja Group

Hinduja Group, which started in Mumbai in 1914, is currently looking at its iron in the business of oil, gas, banking, IT and real estate. According to the group's website, the number of employees is 1.5 lakh. At the same time, the Hinduja brothers have become Britain's richest businessmen. Hinduja Brothers became Britain's richest person for the third time. According to the Sunday Times Rich List, his wealth has increased by 1.356 billion pounds (12 thousand 270 million rupees) in a year.