Potential Hope For Jet Airways As Hinduja Group Prepares Bid To Buy Grounded Airline

In a potential hope appearing on the horizon for Jet Airways, the UK based Hinduja Group is preparing a takeover bid for the grounded airline, Economic Times has reported.

The UK based Hinduja Group is expected to submit an expression on interest by 15 January 2020, to signal its intent to make a formal offer. The Hinduja group is also seeking to find a partner for it bid. Earlier this year Hinduja tried to float a bid along with Ethiad airways but the latter chose to drop out.

Besides a total debt of around Rs 8,500 crore, Hinduja group also needs to consider other factors troubling the airline like lapsed landing rights at Heathrow airport, and the validity of the carrier’s now defunct flying slots.