3 foreign entities bid for Jet Airways; Etihad, Hindujas stay away

NEW DELHI: Three foreign entities have submitted bids for reviving grounded Jet Airways till Saturday — the deadline set by the resolution professional (RP) to do so. However, Etihad and Hinduja Group are learnt to not have submitted their expression of interest (EOI), dimming hope for Jet to fly again.
The EOIs are learnt to have been submitted by strategic and financial players, and not any airline, and they come from places like Panama and the United States.
Sources say the RP will examine the three EOI over the weekend before advising the next course of action. Etihad said in a statement: “This process is being managed by the resolution professional. We have no comment at this time.”
The deadline to submit EOI to acquire Jet Airways was extended by a week to Saturday (August 10). Jet’s resolution professional Ashish Chhawchharia had said this was done “on basis of requests received from prima-facie credible interested resolution applicants for some additional time… The proposed extension is to ensure the objectives of the IBC (insolvency and bankruptcy code) are achieved and we are able to maximise the value of the assets of the corporate debtor and achieve a better outcome for all stakeholders in this fast-track process.”
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References

1. ^{^} Jet Airways (timesofindia.indiatimes.com)
2. ^{^} Etihad (timesofindia.indiatimes.com)
3. ^{^} Hinduja Group (timesofindia.indiatimes.com)
4. ^{^} Panama (timesofindia.indiatimes.com)

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