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Naresh Goyal opts out from bidding for ailing Jet Airways

Press Trust of India  |  Mumbai 

founder has decided not to bid for acquiring stake in the cash-strapped airline, sources said Tuesday.

The full service carrier, which is currently operating less than 10 aircraft, is awaiting fresh fund infusion under a debt resolution plan.

sources said Goyal, who had stepped down as of the carrier last month, has withdrawn the bid for the

On April 12, sources said that had also put in bid for the carrier.

has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of the domestic lenders to the debt-ridden private carrier.

Last month, and his wife stepped down from the board of the airline, which has more than Rs 8,000 crore debt.

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

First Published: Tue, April 16 2019. 13:10 IST