Mumbai: Jet Airways' main promoter and chairman Naresh Goyal has pledged his entire shareholding in the carrier of 51 per cent, valued at over Rs 2,600 crore, to state-run Punjab National Bank. The airline, in a regulatory filing this evening, said Goyal has pledged his entire 57,933,665 shares constituting 51 per cent holding in the airline effective January 8 to PNB with a "non-disposal undertaking". While the reason for pledging of shares was not disclosed, this comes at a time when he aviation sector is going through tough times.
Low cost carrier SpiceJet is currently in financial troubles, while Kingfisher Airline is grounded since since October 2012. Air fuel prices have come down in the recent past due to falling crude price, but they still remain very high and other operating costs also steep in this business. A new player Air Vistara recently entered the sector as a full-service carrier, intensifying the competition and triggering a fresh round of possible airfare war, a frequent phenomenon in this otherwise ailing sector.
14/01/15 PTI/IBN Live
Low cost carrier SpiceJet is currently in financial troubles, while Kingfisher Airline is grounded since since October 2012. Air fuel prices have come down in the recent past due to falling crude price, but they still remain very high and other operating costs also steep in this business. A new player Air Vistara recently entered the sector as a full-service carrier, intensifying the competition and triggering a fresh round of possible airfare war, a frequent phenomenon in this otherwise ailing sector.
14/01/15 PTI/IBN Live
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