Wednesday, September 04, 2019

Jet Airways crisis: RP Ashish Chhawchharia hoping for the best even as experts remain sceptical

Days after the deadline to submit the EoI (expression of interest) ended, Jet Airways' resolution professional Ashish Chhawchharia is hoping for the best. "There's hope that they [creditors] will get a good resolution plan but we will get to know that once they start interacting and reviewing documents. Today, we have to believe that there's a good chance," says Chhawchharia in an interaction with Business Today.

Chhawchharia said that they will issue a final list of eligible applicants in the next few days. According to the EoI document released on July 20, there will be a nine-stage process before applicants submit the resolution plan with all relevant documents to the resolution professional. The deadline to submit interest in Jet was extended twice due to weak response in the first two rounds.

Three entities have expressed interest. That includes Russian Fund Treasury RA Partners, Panama-based investment firm Avantulo Group and South American conglomerate Synergy Group Corp. Synergy owns a majority stake in Colombian carrier Avianca Holdings that has a codeshare agreement with Air India.
04/09/19 Manu Kaushik/Business Today

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