Jet Airways hits upper circuit on report Hinduja Group may bid for airline
Shares of Jet Airways were locked in the upper circuit limit of 5 per cent at Rs 29.6 on the BSE on Tuesday amid reports that Hinduja Group is preparing a bid to buy the grounded carrier.
The UK-based group, run by brothers Gopichand Hinduja and Ashok Hinduja, plans to submit an expression of interest by the January 15 deadline, signaling its intent to make a formal offer, Bloomberg reported quoting unnamed sources. Hinduja is seeking a partner to bid, the report added.
The Group had considered bidding for Jet Airways in partnership with Etihad, but the latter jettisoned the proposal pushing the temporarily de-funct airline into bankruptcy. Jet Airways stopped flying in April after it ran out of money for daily operations.
