Anil Agarwal pulls out of race for acquiring grounded Jet Airways

The remaining two EoIs will now be scrutinised by the resolution professional and submitted to the committee of creditors in the next meeting

A day after submitting an expression of interest (EoI) for Jet Airways, billionaire businessman Anil Agarwal on Monday said he did not wish to pursue it any further, thereby pulling out of the race. 

“The EoI for Jet Airways by Volcan was exploratory in nature. On further evaluation and considering other priorities, we intend to not pursue this further,” said Anil Agarwal. Agarwal through his family investment arm, Volcan Investments, had submitted an EoI for Jet. 

Meanwhile, the United Arab Emirates-based Eithad Airways on Monday said they did not submit an EoI for Jet because of unresolved issues pertaining to the beleaguered