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AdiGroup still interested in Jet; but will wait only 48 hrs

IANS  |  New Delhi/Mumbai 

In a final push to revive the now grounded Jet Airways, London-based has again evinced interest in

"Another 48hrs is all we have... and then we walk away!! Have been patient enough @PMOIndia @MoCA_GoI @TheOfficialSBI @EtihadAirways !!!," AdiGroup's tweeted. The account, however, has not been verified by

According to industry insiders, the which was one of the unsolicited bidder for Jet is still interested to form a partnership with Etihad to operate the now grounded

The development comes after Jet's scrip continued to slip following reports of a breakdown in talks between the and Etihad for a stake sale of the now grounded

Currently, the lenders of led by the SBI are in the process of selling the to recover their dues of over Rs 8,400 crore. Private equity firm TPG Capital, Indigo Partners, and (NIIF) and were shortlisted to submit their bids after they put forward their Expression of Interest (EoI).

However, on May 10, the last date for submitting the binding bids, only Etihad gave its offer and that too in the eleventh hour. The other two bids received for the airline were unsolicited including that of

Industry insiders doubt whether bankers will be able to revive the airline or not, especially after other reports surfaced that Jet's vendors approached the (NCLT).

Having run out of cash, had suspended operations on April 17, impacting thousands of employees, lessors, vendors and passengers.

--IANS

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

First Published: Wed, June 12 2019. 23:14 IST
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