INSUBCONTINENT EXCLUSIVE:
MUMBAI: Jet Airways founder Naresh Goyal filed an expression of interest (EoI) for a stake in the ailing carrier just as the deadline for
submissions was coming to an end on Friday, said two people with knowledge of the matter
The move is said to have flummoxed lenders, who have put the equity on sale as part of a rescue plan for the airline
They have asked for legal advice on how to respond to the move by Goyal, who recently quit as chairman and director and had previously said
for their authenticity and that this is part of the normal procedure
It currently owns 24% of Jet
agreed to pledge more, totalling 41.1% of the company, people in the know have said
His current total shareholding is 51%
The public owns 25% of Jet.
The deadline for the submission of EoIs was 6 pm Friday
The EoIs are non-binding.
Etihad submitted its EoI on Thursday night, joining a host of private equity firms including TPG Capital and
Spokespersons at both firms declined to comment
The government-anchored National Investment and Infrastructure Fund (NIIF) will bid too, people in the know had said
equity infusion is immediate and the funds actually go to the running of the business; instead of an open offer being triggered which may be
stage is the qualification of bids
Qualified entities must send in binding bids by April 30.
Meanwhile, lenders to Jet have told its management to give a fresh loan proposal
and will discuss any emergency funding on Monday, the aviation secretary said on Friday.
Jet has suspended international flights until
Monday, shrunk its operating fleet to 11planes and will further shrink it to six-seven planes during the weekend, said Pradeep Singh
Kharola, the aviation secretary
and Rs 1,100 crore in the second
Of that, only about Rs 200 crore has been released and has been used up in payments to fuel companies, other vendors besides salaries for
about being manhandled by angry passengers following flight cancellations and said the management should be present to tackle the situation
Taneja said he would go to the airport on Friday evening to do so.
