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Mon, Oct 21, 2019 | Last Updated 10:57 pm IST

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Jet Airways open to joint bid

Jet Airways open to joint bid
Jet Airways open to joint bid

Reportedly grounded Jet Airways' lenders plan to get all bids legally verified before beginning negotiations with interested parties. Meanwhile according to informed sources, lenders have a limited number of options to recover their outstanding dues worth Rs 8,400 crore and they might also try to stitch a deal involving two bidding parties.

Jet Airways open to joint bid

A senior banker told in mumbai "We will first get all (solicited and unsolicited) bids legally verified and after that we will invite the selected parties on to the negotiating table”. Furthermore another source involved in the matter said "If the process to find a suitable bidder fails, then the other options will be DRT (Debt Recovery Tribunal) and NCLT." Further when asked about the sudden exodus of the company's top management and lenders view on the same, the senior banker said: "It is for the owners of the airline to decide about appointments. We are not the part of any controlling entity."

Earlier on Tuesday, an exodus of senior management personnel took place, as the airline's CEO, CFO and Company Secretary resigned. Moreover having run out of cash, Jet Airways suspended its operations on April 17. Besides employees exiting, its aircraft are also being gradually de-registered and these events have added to the growing uncertainty about the airline's revival.

Jet Airways open to joint bid
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