Jet Airways receives bids from 5 companies, defers deadline for expressions of interests

New Delhi : Nothing less than five companies have submitted their Expression of Interest (EoI) to bus stakes of Jet Airways which have been put on sale by the lenders as a part of rescue plan to recover the losses. However, the lenders have extended the deadline of submitting the EoI, hoping a submission from the Etihad Airways too.

According to a report by Economic Times, two people close to the matter, confirmed 5 bidders but did not reveal their names. They said, the Eo-Is were either “non-serious” or lacked critical details on how the bidders will recapitalise Jet. This is the first stage of the bidding process and the EoIs are non-binding. 

“As part of the (bidding) process, we are in receipt of some EoIs and some more persons have expressed desire to participate if additional time is provided,” said a spokesperson of SBI Capital Markets, which is overseeing the process. “Accordingly, in order to allow better participation in the process the domestic lenders have agreed to extend the timeline for submission of Expressions of Interest which have been updated and made available on the websites.” 

Lenders have been putting their efforts to convince Etihad Airways to increase its investment to help revive the carrier.