InvestorQ : What is the latest on the Jet Airways sale? Are there any bidders emerging for the stock?
Riya Dwivedi made post

What is the latest on the Jet Airways sale? Are there any bidders emerging for the stock?

Answer
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rhea Babu answered.
4 months ago


There seems to be some interest finally for Jet Airways. Now, Kalrock Capital of the US, Turbo Aviation and Alpha Airways are among the 11 investors who submitted expressions of interest for Jet Airways. The employees’ consortium and the South American Synergy Group have also submitted their EOI. Earlier, Synergy Group and Prudent ARC were given time to submit a resolution plan but failed. Jet Airways was grounded on 18 April 2019 due to acute fund crunch and was admitted to NCLT on 20 June 2019 under the IBC. Jet owes over Rs.8000 crore to banks with SBI having already converted most of its loans into equities. In March, the National Company Law Tribunal (NCLT) had allowed 90 days' extension for the corporate insolvency resolution process of the airline.