Shares of Jet Airways Ltd fell as much as 11.4% on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier.

Jet Airways shares slumps 11.4% after reports of Etihad's non-binding offer

It is judgement day for Jet Airways on Friday as lenders to India’s oldest privately-held airline will meet later in the day and are expected to announce a winning bid for the airline. Jet Airways’ hope to regain its wings hinges on the offers that it receives on May 10, which is the last day to submit binding bids for a potential takeover of the airline.

WION Wallet: Judgement day for Jet Airways as bidding closes today

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Jet Airways shares slumps 11.4% after reports of Etihad's non-binding offer

WION Wallet: Judgement day for Jet Airways as bidding closes today