Debt-laden Jet Airways receives resolution plan from two bidders

Jet, which has been under insolvency since June last year, had received 12 expression of interests in the fourth round, after the first three rounds failed to garner any financial bids

Jet Airways has received resolution plans from at least two of the four shortlisted entities that made the cut in the fourth round, thereby raising hopes for a revival of the beleaguered airline.

According to sources, a consortium — comprising Imperial Capital, Flight Simulation Technique Centre, and Big Charter — have placed a bid for Jet, while the other consortium is led by Kalorck Capital.

“We feel our proposal is a win-win situation for all stakeholders, as it takes care of interests of both financial creditors and employees. We will make equity investment and have received support from Xponentia Capital Partners.