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No decision on final list of suitors for Jet Airways

Our Bureau Mumbai | Updated on June 10, 2020 Published on June 10, 2020

The Resolution Professional appointed for Jet Airways may ask for a few more days to finalize the list of final bidders. While four entities which had expressed interest have been shortlisted, the final list was to be decided on Wednesday.

However, the RP could seek more time to present the shortlisted names to the lenders, according to a source close to the development. “The necessary documents have not been submitted yet. So far all four parties are in the fray,” the source said without disclosing when the final list will be released.

A UK-based Financial Advisory firm, Kalrock Capital has submitted an EOI along with Murari Lal Jalan, a UAE based entrepreneur.

Another consortium that had been shortlisted include Haryana-based Flight Simulation Technique Centre Pvt Ltd (FSTCPL) and Mumbai-based Big Charter Pvt Ltd (BCPL), Abu Dhabi based Imperial Capital Investments LLC (ICIL).

Canadian entrepreneur Sivakumar Rasiah has also been shortlisted. Whereas Kolkatta-based Alpha Airways has been provisionally shortlisted on the condition that their documents are complete.

The latest deadline for completion of Jet Airways insolvency resolution was extended to August 21 in the light of the ongoing lockdown.

In March, the National Company Law Tribunal (NCLT) had allowed 90 days' extension for the corporate insolvency resolution process of the airline.

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Published on June 10, 2020
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