Jet Airways shares plunge 8% as Etihad, Hinduja fail to reach agreement in their airline bid
Updated : May 24, 2019 10:54 AM IST
Shares of Jet Airways fall over 8 percent intra-day after media reports that Hinduja Group and Etihad Airways failed to strike a deal to buy stake in the cash-strapped airlines.
Jet Airways' future remains uncertain as Hinduja Group and Etihad Airways fail to make headway in their negotiations for joint ownership of the grounded airline.
ICRA in a research report said that the grounding of Jet Airways has impacted the industry's capacity by around 14 percent, which has resulted in a 4.2 percent fall in domestic air traffic to 10.99 million in April.