Mumbai: Synergy Group Corp., a South American conglomerate that owns majority shares in airlines including Colombian carrier Avianca Holdings, has shown exploratory interest in investing in Jet AirwaysNSE 4.93 %, said a person aware of the development.
The conglomerate submitted an expression of interest for the bankrupt and grounded airline after the August 10 deadline set by the resolution professional running the bid process. The RP, Ashish Chhawchharia of Grant Thornton, will seek approval from the committee of Jet’s creditors to include Synergy in the race on Monday, he told ET.
The RP was appointed by India’s bankruptcy court after it admitted an insolvency plea from Jet’s top lender, State Bank of India, on loan repayment defaults. The committee of creditors was also formed as part of the resolution process.
The RP has collated claims from all creditors and is in charge of finding a new investor for the airline to clear its dues and give it a new life. Jet halted operations on April 17 after running out of cash and failing to raise money to keep afloat.
The RP has collated claims from all creditors and is in charge of finding a new investor for the airline to clear its dues and give it a new life. Jet halted operations on April 17 after running out of cash and failing to raise money to keep afloat.
26/08/19 Anirban Chowdhury/Economic Times
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The conglomerate submitted an expression of interest for the bankrupt and grounded airline after the August 10 deadline set by the resolution professional running the bid process. The RP, Ashish Chhawchharia of Grant Thornton, will seek approval from the committee of Jet’s creditors to include Synergy in the race on Monday, he told ET.
The RP was appointed by India’s bankruptcy court after it admitted an insolvency plea from Jet’s top lender, State Bank of India, on loan repayment defaults. The committee of creditors was also formed as part of the resolution process.
The RP has collated claims from all creditors and is in charge of finding a new investor for the airline to clear its dues and give it a new life. Jet halted operations on April 17 after running out of cash and failing to raise money to keep afloat.
The RP has collated claims from all creditors and is in charge of finding a new investor for the airline to clear its dues and give it a new life. Jet halted operations on April 17 after running out of cash and failing to raise money to keep afloat.
26/08/19 Anirban Chowdhury/Economic Times
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