Indian-born British billionaire brothers Gopichand , and Srichand Hinduja are eying India’s Jet Airways.
Saddled with debts of more than US$1 billion, Mumbai-based Jet has been in a tailspin for months, defaulting on loans and failing to pay many staff and aircraft leases, forcing it to suspend operations last month. Etihad already owns a 24% share and says it will inject funds to maintain its stake if a majority shareholder can be found.
Shares in Jet, which have almost halved over the past six months, soared 6.97% on the Bombay Stock Exchange Wednesday, a day after rocketing 15% on the back of early reports of the move.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: