New Delhi: The Hinduja Group is evaluating a bid for the cash-strapped air carrier Jet Airways news agency Reuters reported. Following this report, Jet Airways shares were up over 7% in afternoon trade.
A State Bank of India, led a consortium of lenders is struggling to find a buyer for the airline which ceased operations around mid-April due to an acute liquidity crisis.
Jet Airways stopped operations after banks refused to extend emergency funding. It stopped all flights from April 17 after its lenders refused to give it any more funds to keep the carrier flying.
Once the biggest private carrier in the country owes vast sums to its lessors, employees, fuel suppliers and other parties.
The airline has also lost hundreds of pilots, cabin crew and engineers who have resigned due to non-payment of salaries.
Also Read: 17 Injured As Bomb Hits Tourist Bus Near Giza Pyramids In Egypt
Ms Kalinga