AdiGroup still interested in Jet; but will wait only 48 hrs


New Delhi/Mumbai, Jun 13 (IANS): In a final push to revive the now grounded Jet Airways, London-based AdiGroup has again evinced interest in Jet Airways.

"Another 48hrs is all we have... and then we walk away!! Have been patient enough @PMOIndia @MoCA_GoI @TheOfficialSBI @EtihadAirways !!!," AdiGroup's Chairman and Managing Partner Sanjay Viswanathan tweeted. The account, however, has not been verified by Twitter.

According to industry insiders, the AdiGroup which was one of the unsolicited bidder for Jet is still interested to form a partnership with Etihad to operate the now grounded airline.

The development comes after Jet's scrip continued to slip following reports of a breakdown in talks between the Hinduja Group and Etihad for a stake sale of the now grounded airline.

Currently, the lenders of Jet Airways led by the SBI are in the process of selling the airline to recover their dues of over Rs 8,400 crore. Private equity firm TPG Capital, Indigo Partners, National Investment and Infrastructure Fund (NIIF) and Etihad Airways were shortlisted to submit their bids after they put forward their Expression of Interest (EoI).

However, on May 10, the last date for submitting the binding bids, only Etihad gave its offer and that too in the eleventh hour. The other two bids received for the airline were unsolicited including that of AdiGroup.

Industry insiders doubt whether bankers will be able to revive the airline or not, especially after other reports surfaced that Jet's vendors approached the National Company Law Tribunal (NCLT).

Having run out of cash, Jet Airways had suspended operations on April 17, impacting thousands of employees, lessors, vendors and passengers.

  

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Comment on this article

  • James, Belman

    Thu, Jun 13 2019

    First scrap the partnership with Etihad then only jet airways can survive

    DisAgree [1] Agree [5] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Jun 13 2019

    Keep Naresh Goyal out of Jet Airways ...

    DisAgree [2] Agree [7] Reply Report Abuse

  • SAMAD, Mangalore

    Thu, Jun 13 2019

    Government will not accept it because they want to handover Air India to Ambani.

    DisAgree [4] Agree [12] Reply Report Abuse

  • Jagdish, mumbai

    Thu, Jun 13 2019

    SAMAD...BANGLORE KA LOOTERA I MEAN ZAMEER AHMED KA CHADDI DOST KIDAR CHUPA HAI..TUJE KOI IDEA HAI KYA ?

    DisAgree [5] Agree [5] Reply Report Abuse

  • GOLD'S, mangalore

    Thu, Jun 13 2019

    COOL COOL. HAND OVER TO NIRAV MODI ITS BETTER....

    DisAgree Agree [4] Reply Report Abuse

  • Jagdish, mumbai

    Thu, Jun 13 2019

    GOLDU.....WHAT ABOUT ROSHAN BAIG ?

    DisAgree Agree [1] Report Abuse

  • Neeth, Mangalore

    Thu, Jun 13 2019

    Better option is to hand over Jet airways to Mansoor Khan of IMA

    DisAgree [2] Agree [3] Reply Report Abuse

  • GOLD'S, mangalore

    Thu, Jun 13 2019

    VIJAY MALLYA IS BETTER THAN MANSOOR KHAN .BECAUSE HE HAD EXPERIENCE IN AIRLINE FIELD . DANYVAD

    DisAgree [2] Agree [2] Reply Report Abuse


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