Saturday, August 10, 2019

Jet Airways receives three EOIs as deadline ends

Debt-ridden Jet Airways has received three Expressions of Interest (EOI) including that of Panama based Avantulo Group as the deadline to submit bids ended at 4 pm on Saturday, sources aware of the development told CNBC-TV18.

Sources indicated that Etihad Airways and Hinduja Group have not submitted a bid in this round. An Etihad Airways spokesperson, in a statement to CNBC-TV18 said, " This process is being managed by the resolution professionals and at this time, out of respect for the process, Etihad Airways has no comment to make."

Jet Airways was admitted for insolvency proceedings on June 20 by the Mumbai bench of NCLT, and Grant Thornton's Ashish Chhawchharia has been appointed the Resolution Professional for the airline. Jet Airways is facing claims of Rs 24,887 crores from various creditors.
10/08/19 Ritu Singh/CNBC TV18

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