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SBI extends date for deadline for stake sale in Jet Airways

ANI 

has extended the deadline for investors to bid for a controlling stake in beleaguered by two days till Friday.

The said the revised last date for sending queries is 3 pm on Thursday and expressions of interest (EoIs) will be accepted till 6 pm on Friday (April 12).

"Qualified bidders will be expected to submit their respective binding bid(s) latest by April 30 subject to the terms set out under the bid document," said in a statement.

Wednesday was a tough day for the as Indian Oil stopped jet fuel supplies for breaching the credit limit agreed upon. Though fuel supplies resumed after some hours, it was the second time that Indian Oil had taken such a decision.

A flight from to was stopped from taking off at the by a European cargo company due to outstanding bills.

Burdened with high operating costs and a huge debt, has been struggling to fly with 26 planes, according to reports. Since January, it has not been able to pay salaries to pilots and maintenance engineers.

Many lessors have taken possession of planes after the failed to pay rents.

Lenders, led by State Bank of India, took control of Jet Airways in March after its Founder and gave up control to resolve the crisis.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 11 2019. 10:56 IST
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