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Etihad, a few others submit bids for Jet Airways

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Published : May 10, 2019, 9:32 PM IST

"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.

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.

"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.

Also read: SFIO probe likely into Jet Airways 'fund diversion'

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.

"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.

Also read: SFIO probe likely into Jet Airways 'fund diversion'

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Etihad, a few others submit bids for Jet Airways
         Mumbai, May 10 (PTI) 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.
         "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. PTI IAS HV
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BEN
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