Accordingly we have made disproportionate efforts to keep Jet flying," said SBI Chairman Rajnish Kumar. The SBI announcement comes even as Jet's offices are being vacated at many airports across the country and employee access is being revoked. Aviation industry sources reportedly said earlier on Thursday that the stake sale process is unlikely to get any "serious bid" from investors.
Public sector banks may be looking at massive write-off of the loans, they added."This world lives on hope so there is hope till 6pm," said Mr. Kumar. He declined to give any detail on the bidders, how serious the parties were and what terms were being offered by the interested parties. The lenders had said earlier this week that four expressions of interest from Etihad Airways, TPG Capital, Indigo Partners and National Investment and Infrastructure Fund (NIIF) - were received.
Once india's largest private airline, Jet Airways stopped all flights on April 17 after its group of lenders led by SBI - declined to extend more funds to keep the carrier going. Meanwhile, the employees have sought government intervention for revival of the airline, which suspended all of its flight operations indefinitely on April 17.
Air Asia India plans to tie up with about 200 companies Seeking long term travel commitment, Tata Group joint venture Air Asia India plans to tie up with about 200 companies in the next few months, offering them a slew of benefits, including flexibility in last minute flight change and onboard meals. The aggressive business pitch is set to help the low cost carrier widen its customer base before launching maiden international flights by year end.
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