BARGAIN: Indian airline to be sold for 1 cent
Shares in this airline cost less than the price of a cup of coffee, but you might want to reconsider this bargain on the stock exchange.
In news gathered by Traveller, it was reported that India’s biggest full-service airline, Jet Airways, is selling shares at prices of a rupee each (0.020 AUD).
After more than a decade of losses, plans to revive the dilapidated Mumbai-based airline are currently underway, with Etihad Airways—a key shareholder—along with a State-led group to revive the company.
As it stands, Jet Airways requires nearly 85 million rupees (1,665,077.13 AUD) to recover, while further negotiations regarding the selling and leasing of aircraft remain in the works.
The disappearance of Jet Airways would likely influence the cost of airfares, with flights to over 35 destinations throughout India available.
Jet Airways also fly internationally to destinations like London and Singapore.
Email the Travel Weekly team at traveldesk@travelweekly.com.au
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They want 1 rupee per share? I’ll make a firm offer of buying it for 0.75 rupees per share then once they accept the offer i will ask them to then lower the price more to 0.55 rupees per shre and start to knock the price down further. But I will only begin to ask for a better price once each previous office has been accepted.