e-paperNew HOMELATESTTRENDINGMY READS

Gopichand P. Hinduja and Ashok Hinduja said that apart from Jet Airways, the group has evaluated other distressed asset opportunities in India.
Hinduja group still keen on buying Jet if protected from its legal liabilities
3 min read . 22 Dec 2019Deborshi Chaki, Swaraj Singh Dhanjal
The London-based Hinduja group abandoned plans to resurrect Jet Airways after showing an initial interest
Jet Airways, which had a negative net worth, had accumulated losses of more than ₹13,000 crore over the past few years
Topics
Hinduja GroupJet AirwaysSynergy Group

Mumbai: The Hinduja group is still open to acquiring defunct Jet Airways (India) Ltd if the conglomerate is indemnified from the airline’s legal liabilities.
“The reason we took interest was because government authorities approached us to help in survival of Jet. Even the banks approached us," said Gopichand P. Hinduja, co-chairman of the London-based group, which has presence in automobiles, financial services, and oil and gas, among other businesses. “With our good relations and contacts in the Middle East and Gulf, we took the initiative to support and help."
The Hinduja group, after showing initial interest, decided to abandon plans to resurrect Jet Airways, dealing a blow to efforts aimed at rescuing the airline that was grounded in April after running out of cash, Mint reported in June.
0 Comments