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Is there a silver lining for cash-strapped Jet Airways?

Lenders of Jet Airways including SBI, have extended the bidding deadline to April 12 which was initially April 10.


Private Equity firms like Indigo Partners, NIIF, TPG Capital and current Jet Airways shareholder- Etihad Airways have reportedly shown an interest to bid for a stake in Jet Airways. The lenders of Jet Airways including SBI are currently waiting for Expression of Interest (EoIs) from Air Canada and Delta Airlines whereas Etihad reportedly has already submitted its EoIs.  

The lenders have extended the bidding deadline to April 12 which was initially April 10. The extension of the deadline is in line because the bidders wanted more time to clarify details.

Also Read- Pay The Due Salaries By April 14: NAG To Jet Airways

Naresh Goyal-led Jet Airways is on the verge of bankruptcy and it was reported that an aircraft was seized in the Netherlands for defaulting of payments in Europe yesterday. It is reported that Jet will heavily curtail its operations with all Airbus A330 planes being taken out of the service.

Notably, National Aviators Guild (NAG) issued a notice to Jet Airways and has given the management time for payment of salaries of pilots till April 14.

Also Read- IndiGo To Introduce 20 Additional Domestic Flights