Jet Airways auction likely to shape the future of airline business

Goyal, with 25 per cent, can try and rope in new global partner replacing Etihad and bid together to get Jet back

Will India’s aviation business change fundamentally if Jet Airways is sold to a strategic buyer?

The answer depends on who wins the auction, planned by lenders to sell their 51 per cent stake. It is ‘yes’ if the new strategic investor does not only buy out the lenders’ stake but also that of promoter Naresh Goyal and, maybe, even Etihad’s. It’s ‘no’ if Goyal, after being ousted with his wife from the board on Monday, and with his shareholding halved to 25 per cent, can make a comeback by partnering a new investor and win back majority control. 

Looking at the airline