Companies

Approach SBI, Jet tells UK entrepreneur who evinced interest in buying the airline

Forum Gandhi Mumbai | Updated on April 24, 2019 Published on April 24, 2019

The Jet Airways head office in Mumbai Paul Noronha

Jet Airways has asked Jason Unsworth, founder and CEO of Atmosphere Airlines UK, to write to State Bank of India (SBI) if he is serious about bidding for the airline.

Usworth had recently sent a letter to the Jet Airways CEO, among others, stating his interest in acquiring the airline. He also met an Indian entrepreneur who has a start-up airline in Zambia and is supposedly willing to invest ₹1,500 crore in Jet.

“An unsolicited email communication was received by the company. The sender (of letter) has been advised to formally engage with SBI Caps Ltd,” Jet said in a BSE filing. “As long as he is willing to invest money and it is valid, legal and as per the norms of SBI, any money that could save the airline is welcome.”

The entrepreneur had written to Jet, Etihad, SBI, PNB, Prime Minister Narendra Modi and British Prime Minister Theresa May about his plans to “acquire Jet Airways, restructure, rebrand, and restore Jet Airways into a 5-star airline.”

“So far we have secured ₹1,500 crore which is required for Jet Airways. I had a meeting with an Indian entrepreneur, who too is working on another airline in Zambia. We wrote to the SBI chief today afternoon, we hope to resume the airline’s operations, and pay the salaries,” he said without disclosing the name of the other entrepreneur.

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Published on April 24, 2019
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