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Hinduja group still keen on buying Jet Airways, says report

Hinduja group still keen on buying Jet Airways, says report

Hinduja group still keen on buying Jet Airways, says report
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By CNBC-TV18 Dec 23, 2019 10:38:27 AM IST (Published)

The development comes after the group had earlier abandoned its plans to resurrect Jet Airways despite the initial interest.

The Hinduja group is still open to acquiring defunct Jet Airways, reported Live Mint. The London-based group, the report said, will go forward with the acquisition plan if given protection from legal liabilities.

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“The reason we took interest was because government authorities approached us to help in the survival of Jet. Even the banks approached us… With our good relations and contacts in the Middle East and Gulf, we took the initiative to support and help," Gopichand P. Hinduja, co-chairman of the London-based group, was quoted as saying in the report.
The development comes after the group had earlier abandoned its plans to resurrect Jet Airways despite the initial interest. This decision, Ashok Hinduja, chairman of the group’s India operations told media was because National Company Law Tribunal (NCLT) wasn’t giving Hinduja’s protection from past problems of the carrier.
The renewed interest of the Hinduja Group towards Jet could stir the scene as currently only Synergy Group, controlled and co-founded by 69-year-old Bolivian-born billionaire Germán Efromovich has bid for the now-defunct carrier.
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