Jet Airways gets wooed by new entrepreneurs

The latest investors for the debt-ridden airline were a British airline, a non-resident Indian and investment firms Adi Partners, Future Trend Capital and Radcliffe Capital.

The founder of Atmosphere Intercontinental Airlines Jason Unsworth is among those who have expressed interest in Jet Airways. The airline is a start-up offering luxury Intercontinental flights wanting to expand its services into Asia and other destinations.

Also in the fray is Lakshay Uttam, an NRI entrepreneur based out of Amsterdam, engaged in aviation and hospitality industry.

Among the investment firms are Adi Partners, Future Trend Capital and Redcliffe Capital, some of whom had partnered with Naresh Goyal earlier to buy stakes in the airline.

On the other hand, news reports said that the Enforcement Directorate has initiated a probe into FDI norm violation by Eithad Airways and Jet Airways with regards to investment into Jet Privilege. Etihad had invested Rs. 900 crore into Jet Privilege in 2014.

Also, HDFC Limited will be auctioning a office space which was mortgaged to the lender by Jet Airways in Bandra Kurla Complex Tower. Jet Airways failed to repay a loan of Rs. 414 crore. Thus HDFC will auction the properties of 52,775 sqft on May 15, 2019. HDFC has declared a reserve price of Rs. 245 crore.

On Wednesday, the stock of Jet Airways closed at Rs. 131.45 per share, up by Rs. 4.10 or 3.22 per cent on BSE.