Skip to content
Search

Latest Stories

Shares of Jet Airways plunge after report Hinduja, Etihad reconsider investment plans 

SHARES of India’s grounded airline, Jet Airways recorded a steep fall today (11) after a report that Hinduja Group and Etihad Airways may not invest in the troubled airline.

Family business, Hinduja Group earlier said that it was considering a bid for Naresh Goyal founded airline.


Etihad, a minority stakeholder in the company had submitted a bid for debt-ridden airline in May.

Indian business daily, Mint reported that Hinduja Group had decided to stop negotiations for purchasing a stake in Jet Airways while Middle Eastern carrier had put its plan on hold to invest further in the company.

Owners of the Hinduja Group have expressed their worry over the ongoing probe by the Indian government Jet Airways and insolvency petitions filed by its creditors, Mint reported, citing a source familiar with the matter.

Jet Airways shares on Bombay Stock Exchange (BSE) today (11) closed at Rs 111.95, a fall of 10.58 per cent when compared to the previous close.

The company shares, which had shed nearly 69 per cent in 12 months as of Monday’s (11) close.

Meanwhile, both Etihad and the Hinduja Group are also focusing on the Mumbai bench of National Company Law Tribunal (NCLT) where two creditors of Jet Airways have filed their petitions on Monday (10), media reports said.

The two operational creditors, Shaman Wheels and Gaggar Enterprises moved the NCLT seeking bankruptcy proceedings against the airline.

The tribunal issued notices to Jet Airways and its lenders led by the State Bank of India (SBI) which own the airline now and adjourned the case for further hearing on June 13.

Jet Airways struggled to compete with low-cost carriers like IndiGo and SpiceJet that now dominate Indian skies and the debt-laden carrier was forced to ground its entire fleet in April, resulting in the loss of more than 20,000 jobs.

Jet has debts of over $1 billion and been in a tailspin for months. It defaulted on loans and failed to pay much staff since the start of the year.

After its lenders declined to extend more funds, the carrier was forced to ground its entire fleet on April 17, triggering protests by thousands of employees who have been not paid salaries.

More For You

Jio Platforms

Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. (Photo: Reuters)

Reuters

Jio IPO planned for mid-2026, AI unit announced with Meta and Google

RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.

At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.

Keep ReadingShow less
Asda tech overhaul

Asda sales fell 0.2 per cent in the three months to June 30, 2025 (AFP via Getty Images)

AFP via Getty Images

Asda boss hails tech overhaul as key to revival despite sales slump

THE chairman of Asda has admitted the supermarket chain still faces challenges after sales slipped again over the summer, but said the completion of a major IT overhaul was crucial for its recovery.

Allan Leighton told the Times that the long-delayed technology project, called Project Future, had finally been finished after years of setbacks and costs exceeding £1 billion. The work involved separating more than 2,500 systems inherited from former owner Walmart, following Asda’s 2021 takeover by TDR Capital.

Keep ReadingShow less
JLR-Getty

A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)

Getty Images

UK car exports to US rebound after trade deal

UK VEHICLE exports to the United States rose in July after a new trade deal between London and Washington reduced tariffs, industry data showed on Thursday.

According to the Society of Motor Manufacturers and Traders (SMMT), exports increased 6.8 per cent in July to nearly 10,000 units, following three consecutive months of decline.

Keep ReadingShow less
Relatives of jailed Briton appeal to UK minister in AgustaWestland row

Christian Michel

Relatives of jailed Briton appeal to UK minister in AgustaWestland row

THE family of Christian Michel, the British businessman accused of acting as a middleman in the AgustaWestland VVIP helicopter deal, has appealed to the UK government to push for his release from Delhi’s Tihar Jail.

Michel’s relatives met Foreign Office minister Catherine West in London on Tuesday (26). The Foreign, Commonwealth and Development Office (FCDO) said the minister listened to their concerns and updated them on ongoing steps being taken.

Keep ReadingShow less
Blackburn loses Issa empire as brothers move EG Group to US

Zuber and Mohsin Issa (Photo: LDRS)

Blackburn loses Issa empire as brothers move EG Group to US

ASIAN entrepreneurs Mohsin and Zuber Issa are moving the headquarters of their global forecourt company, EG Group, from Blackburn to the US in preparation for a major stock market listing in New York.

The firm confirmed that its main office will relocate to Charlotte, North Carolina, while a new base in Bolton, Greater Manchester, will handle its remaining UK operations, the Telegraph reported. The change brings an end to almost 25 years of the company being run from Blackburn.

Keep ReadingShow less