Etihad flies in to rescue Jet, submits conditional offer for minority stake

Banks to decide on legality of two unsolicited bids

In a surprise development, Etihad Airways submitted a conditional offer to reinvest in the grounded Jet Airways on Friday just before the deadline ended for putting in binding bids. While Etihad’s offer has been declared as the only qualified bid, the Abu Dhabi-based airline made it clear that it would hold only a minority stake in Jet and that its bid was conditional.
 
Earlier in the day, State Bank of India chairman Rajnish Kumar at a press conference to announce the financial results had said he was expecting a serious bid, apart from the two unsolicited ones which had