Thursday, May 09, 2019

AdiGro Aviation to bid for Jet Airways; wants to partner Etihad to revive airline

AdiGro Aviation, part of the London-based AdiGroup, is set to bid for distressed airline Jet Airways on May 10, the last day for bidding. Group founder Sanjay Viswanathan said he has the backing of key investors.

"We are certainly putting in a bid," Viswanathan told Moneycontrol over the telephone from London.

Viswanathan is also Managing Partner of Adi Partners, which is part of AdiGroup, a global management and investment advisory firm. This will be the first investment in aviation for the group, which also has interests in technology and fintech.

The bid will come as a respite to Jet Airways stakeholders, amid increasing doubts if the airline will attract any investors after its key assets were given away to peers.
However, Viswanathan clarified that the firm hasn't aligned with Jet Airways founder Naresh Goyal, or with the group of investors, including British entrepreneur Jason Unsworth, who are also interested in the airline.
Earlier, Unsworth had claimed that Adi Partners was part of a consortium that included him and investment firms such as Future Trends Capital and Redcliffe Capital. Reports had also linked Adi Partners with Goyal.
09/05/19 Prince Mathews Thomas/Moneycontrol.com

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