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Jet Airways in talks with Boeing, Airbus for $12-bn order: Report

The news on Jet comes a month after billionaire investor Rakesh Jhunjhunwala-backed low cost Indian carrier Akasa Air placed a $9 billion order for 72 Boeing 737 MAX jets

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Jet Airways | Airbus | Boeing

Reuters  |  BENGALURU 



Jet Airways
Photo: Shutterstock

India's is in talks with planemakers Co and SE for an order worth $12 billion, BloombergQuint reported on Thursday, citing Bloomberg .

The airline's new owners, UAE-based businessman Murari Lal Jalan and UK investment firm Kalrock Capital, told Bloomberg that Jet could buy at least 100 narrowbody aircraft, BloombergQuint said on Twitter.

The group is set to invest about $200 million through equity and debt in Jet over the next six months, BloombergQuint said.

Jet, and did not immediately respond to requests for comment from Reuters.

The Jalan-Kalrock consortium's resolution plan for Jet was approved by India's bankruptcy court in June, with the airline poised for takeoff by the first quarter of 2022 as it gears up to resume domestic operations.

The debt-laden airline, once India's biggest private carrier, stopped flying in April 2019 after running out of cash, leaving thousands without jobs.

Shares of the airline jumped as much as 3.7% to 85 rupees on Thursday and were trading 2.4% higher at 0740 GMT.

The on Jet comes a month after billionaire investor Rakesh Jhunjhunwala-backed low cost Indian carrier Akasa Air placed a $9 billion order for 72 737 MAX jets.

 

(Reporting by Shivani Singh in Bengaluru; Editing by Devika Syamnath)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Thu, December 02 2021. 14:01 IST

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