Prudent ARC seeks 4 more weeks to submit plan on Jet Airways resolution

Prudent ARC is in talks with investors and has submitted letters of support from its investors

The two suitors showing interest in the grounded Jet Airways failed to submit a resolution plan as the deadline for bid submission closed on Monday.

One of the suitors, New Delhi-based Prudent ARC, has sought additional four weeks’ time to submit a revival proposal for the airline, sources close to the development said. South America-based Synergy Group, the second player in contention, is yet to submit a plan. Sources said issues related to slots in the domestic and international routes were the bone of contention for Synergy Group. 

The committee of creditors of Jet is meeting on Tuesday to discuss the way