The Hinduja Group has business in 10 sectors, including, oil and chemicals, banking and finance, power, spread in 38 countries.
However, negotiations between Hinduja Group and Etihad Airways was reportedly going slow. Officials of Hinduja Group met Etihad executives’ on Thursday at the Etihad headquarters in Abu Dhabi to discuss the deal. Top executives of State Bank of India
(SBI), which leads the lenders’ consortium, were also present at the meeting in Abu Dhabi, the corporate headquarters of Etihad.
Jet, once the biggest private airline in India, owes vast sums to its lessors, employees, fuel suppliers and other parties. It stopped all flights from April 17 after lenders refused to give it any more funds to keep flying.
The total investment required by Jet Airways
to restart operations is around Rs 5,950 crore. Etihad, in its offer, said it would be able to invest only Rs 1,700 crore and acquire 24 per cent stake, said reports.