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Wednesday, April 17, 2019

The bidders shortlisted for Jet Airways

Etihad Airways, National Investment and Infrastructure Fund, TPG Capital and Indigo Partners have emerged as qualified bidders for Jet Airways, Economic Times reports. A consortium put together by founder Naresh Goyal withdrew from the race after suitors Etihad and TPG threatened to walk out. Meanwhile, media reports said matters have devolved into a chicken-and-egg situation: Jet has asked banks ₹400 crore to stay afloat but the lenders want to evaluate the bids first to limit their risk. The carrier flew just five planes on Tuesday, and unpaid pilots have threatened to invoke insolvency laws to recover salaries.