InvestorQ : What is the progress on the bids for Jet Airways?
Archita Jajjoo made post

What is the progress on the bids for Jet Airways?

Answer
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Niti Shenoi answered.
3 weeks ago


The major Lenders to Jet Airways have set 30 September as the final deadline for the 2 shortlisted bidders to submit revised offers. The date has been extended multiple times. The Committee of Creditors or COC led SBI found the initial bids unsatisfactory.

There were finally two binding bids for Jet coming from a consortium of UK-based Kalrock Capital and UAE-based Murari *** Jalan. The other bid was from a consortium consisting of Haryana-based Flight Simulation Technique Centre and Abu Dhabi’s Imperial Capital.

Jet was grounded in April 2019 and the insolvency process was supposed to be completed by 13 June 2020. The bids were extended first due to COVID and then due to bids being unsatisfactory.