Jet Airways rises 2% on Rs 4,000-crore rescue plan
NEW DELHI: Shares of Jet AirwaysNSE 0.81 % rose 2 per cent on Tuesday morning on reports that Etihad Airways and a new partner will together invest nearly Rs 4,000 crore to revive beleaguered Jet Airways while founder-promoter Naresh Goyal and his wife would step down from the board and all executive positions.
The scrip hovered at Rs 253.15, up 2.06 per cent at around 09:31 am, while the benchmark BSE Sensex was up 0.80 per cent at 37,350.14.
The lenders will convert a portion of their loans into equity and Jet Airways’ 51 per cent stake in Jet Privilege will be pledged with them to raise money, according to draft proposals being discussed among key shareholders and the board.
