Jet shares slip 2% after Goyal offers to pledge rest of his shares

NEW DELHI: Jet Airways shares slipped 2 per cent in early trade on Wednesday after reports emerged that the founder Naresh Goyal has offered to pledge rest of his shares in the company.

An ET report suggested that Goyal told lenders seeking to rescue the carrier that he will pledge the rest of his shares to them on condition they release the promised interim loan funding of Rs 1,500 crore without delay.

Goyal owns 51 per cent in the airline but has pledged 31.2 per cent with lenders.


Etihad Airways, Jet’s second-largest shareholder, is planning a board meeting to discuss the revival plan proposed by the lenders led by State Bank of India before taking a call on whether to invest further in Jet, the report further added.

Shares of Jet closed 1.59 per cent lower at Rs 263.40 on BSE.