Etihad, A Few Others Submit Bids For Jet Airways


Mumbai: State Bank, which leads the consortium of the lenders of Jet Airways Friday said they have received bids from Etihad Airways and a few unsolicited parties to take over the grounded airline.

The consortium of 26 lenders which now owns 51 percent in the airline, had invited expressions of interest between April 8 and 12 and had received four preliminary bids.

Friday was the last day to submit financial bids by the qualified bidders.

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“Sealed bid from Etihad Airways has been received and the same will be submitted to lenders for examination,” said SBI Caps, which is handling the bidding process.

It further said a few unsolicited offers have also been received which the lenders may deliberate on subsequently.

The lenders are offering 31.2-75 percent stake in the company on a fully diluted basis. Currently, the airline owes Rs 8,000 crore to the lenders.