Airways - Latest News Update, Information, Photos & Videos on Airways at Lokmat Times

"There are cases where management buy-outs are happening. The employees are coming together to bid for the revival of the company. There is no harm in being innovative. Like-minded people can come together and bid," said a Mumbai-based investment banker.He cited the case of insolvent power transmission firm Jyoti Structures in which a couple of dozens of investors came together to buy the company.Jet Airways remains grounded for over a month now and the attempt made by its lenders led by the State Bank of India (SBI) to bring an investor on board has failed."The idea (of two or three like-minded investors coming together) is good. Now that the Hinduja Group has shown interest in the airline, there seems to be light at the end of the tunnel. It will also pave way for the business conglomerate to enter into the aviation space in India," said Rajan Mehra, Chief Executive Officer (CEO) at Club One Air and former India head of Qatar Airways.In response to the lenders' call for stake sale in the airline, only Etihad Airways submitted a bid. The other three investors private equity firm TPG Capital, Indigo Partners and National Investment and Infrastructure Fund (NIIF), which had qualified in the expression of interest (EoI), did not submit any financial proposal.There were also two unsolicited bids from foreign investors. The Hinduja Group on Tuesday said that it was exploring options to buy a stake in the crisis-hit airline."Hinduja Group is evaluating the Jet Airways opportunity," a spokesperson had said.While the idea of interested parties coming together and submitting a joint bid appears to be a solution, the Chief Financial Officer (CFO) of a large private firm said that it would be a complicated exercise.As per industry estimates, the debt-laden Jet Airways requires funds worth Rs 15,000 crore but none of the investors have so far showed commitment to infuse substantial funds. The sole bidder Etihad, which holds 24 per cent stake in the airline, has proposed to invest only Rs 1,700 crore.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

AirwaysFOLLOW

Airways, Latest News

National :Drunk flyers handed over to CISF, Indigo after Dubai-Mumbai flight ruckus

Mumbai (Maharashtra) [India], March 23 : Indigo Airways in a statement on Thursday expressed their regret for the inconvenience ... ...

National :People from Maharashtra no longer need negative COVID RT-PCR report to enter Karnataka

People arriving from Maharashtra will no longer require a negative RT-PCR test report to enter Karnataka, said a letter from the state health department. ...

Lifestyle :Check out the safest international airlines for 2020!

Security at the airline is one of those things people hope they never have to think about when travelling via aeroplanes. ...

National :Slowdown shadow on air traffic to and from India

Air travel to and from India during January-March quarter of this calendar year grew at slowest pace of 3.8 per cent in the last four years pointing to slowdown in the economy. ...

Business :Joint bid for Jet Airways innovative but complicated: Experts

With conventional solutions remaining elusive for the grounded Jet Airways, industry experts see a joint bid for the airline by strategic and financial investors as a viable option wherein risks can also be hedged. ...