Jet Airways rallies 5% as AdiGro Aviation eyes bid

Shares of Jet Airways rallied more than 5 percent intraday on May 10 on reports of a possible take over by AdiGro Aviation, the aviation arm of the London-based AdiGroup.

“We are certainly putting in a bid,” Group founder Sanjay Viswanathan told Moneycontrol.

Viswanathan added that the company has reached out to Etihad Airways for a possible partnership to turnaround the beleaguered airline.

“We are very keen to work with Etihad. It’s a key partner for the airline. If Etihad wants to continue with Jet Airways, we would love to partner with them to re-engineer Jet Airways,” he added.

At 1043 hrs, Jet Airways was quoting Rs 155.40, up 5.28 percent on the BSE.

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