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Bidders for Jet Airways not keen to follow up on their offers: Report

Three of the four qualified bidders - Etihad Airways, TPG Capital and Indigo Partners - have not signed non-disclosure agreements which is necessary for conducting due diligence, the paper said.

Reuters  |  BENGALURU 

Jet Airways
Jet management has also been trying to tap India's biggest business houses for investment

Bidders for India's Ltd have not shown interest in following up their offers for the debt-laden airline with a few days left to submit their final bids, the Economic Times reported on Thursday.

Three of the four qualified bidders - Airways, Capital and Indigo Partners - have not signed non-disclosure agreements which is necessary for conducting due diligence, the paper said.

The bidders have until May 10 to submit their offers.

Jet, once India's largest private airline, was forced to stop all flight operations on April 17 after its banks rejected the carrier's plea for emergency funds.

Jet management has also been trying to tap India's biggest business houses for investment, the paper said.

They have met executives at Mahindra, Adani, Tata group and Reliance Industries in the last two weeks, but none of the conglomerates have responded positively, it said.

Jet Airways, Airways, Capital, Adani, Tata and Reliance did not immediately respond to Reuters requests for comment, while Indigo Partners and Mahindra group were not immediately reachable for comment.

 

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, May 02 2019. 09:37 IST
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