State-run SBI Friday said Etihad Airways had sought waiver of open offer and assurance of flying slots for take over of Jet AirwaysNSE 15.51 %, but the lenders to the debt-ridden carrier had no authority to accommodate the relaxations sought.
State Bank of India (SBI) chairman Rajnish Kumar had Thursday defended the lenders' decision to take Jet Airways for bankruptcy saying "it was their last effort to find a resolution" for the grounded airline and also did not rule out the possibility of liquidation.
Earlier this week, SBI-led consortium of 26 lenders had decided to seek resolution under IBC as they had received only a conditional bid.
In a filing to stock exchanges Friday, SBI said financial position of Jet Airways (lndia) Limited (JAL) being weak, lenders were continuously trying for viable resolution for last one year on account of operational losses.
ln this regard, it added reputed consultants -- SBICAPS, McKinsey -- were roped in as process advisors/advisors. lt was also decided to initiate a bidding process to bring in new investors, SBI said.
ln this regard, it added reputed consultants -- SBICAPS, McKinsey -- were roped in as process advisors/advisors. lt was also decided to initiate a bidding process to bring in new investors, SBI said.
21/06/19 PTI/Economic Times
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State Bank of India (SBI) chairman Rajnish Kumar had Thursday defended the lenders' decision to take Jet Airways for bankruptcy saying "it was their last effort to find a resolution" for the grounded airline and also did not rule out the possibility of liquidation.
Earlier this week, SBI-led consortium of 26 lenders had decided to seek resolution under IBC as they had received only a conditional bid.
In a filing to stock exchanges Friday, SBI said financial position of Jet Airways (lndia) Limited (JAL) being weak, lenders were continuously trying for viable resolution for last one year on account of operational losses.
ln this regard, it added reputed consultants -- SBICAPS, McKinsey -- were roped in as process advisors/advisors. lt was also decided to initiate a bidding process to bring in new investors, SBI said.
ln this regard, it added reputed consultants -- SBICAPS, McKinsey -- were roped in as process advisors/advisors. lt was also decided to initiate a bidding process to bring in new investors, SBI said.
21/06/19 PTI/Economic Times
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