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Jet Airways revival: Etihad offer hinges on Rs 9,000-cr debt write-down

Jet lenders find there's no binding bid

Jet Airways revival: Etihad offer hinges on Rs 9,000-cr debt write-down

Etihad Airways has put in stiff conditions, which include a substantial write down of the Rs 9,000-crore loans, as a prerequisite to run Jet Airways. The Abu Dhabi-based airline has also put the onus of finding a majority investment partner on the Jet lenders.  Etihad, which holds 24 per cent stake in Jet, submitted its offer last Friday just before the window closed for binding bids. SBI Capital Markets, the merchant banker for the transaction, opened the offer on Monday to find there’s no binding bid, and only a letter of  interest, sources in the know said. This ...