Jet Airways sinks 14% on report of halt in Hinduja, Etihad’s revival plans
Shares of Jet Airways (India) tumbled 14 per cent to Rs 107, also its new low on the BSE in the morning deals on Tuesday after a media report said that both Hinduja group and Etihad Airways may not proceed with plans to resurrect the beleagured airline.
In past two weeks, the stock tanked 30 per cent, as compared to 1 per cent rise in the S&P BSE Sensex.
The Hinduja Group has decided to halt negotiations to buy a stake in Jet Airways, while Etihad Airways of Abu Dhabi has put on hold a plan to add more investments in the Mumbai-based airline, Mint said, quoting “two people familiar with the matter”.
