INSUBCONTINENT EXCLUSIVE:
grounded carrier.
According to a Bloomberg report, Gopichand Hinduja and Ashok Hinduja led group is planning to submit an expression of
interest (EOI) by January 15 deadline
are private.
Hinduja is seeking a partner to bid, one of the people told Bloomberg.
Hinduja Group had earlier this year considered bidding
for Jet Airways in partnership with Etihad, but Etihad jettisoned the proposal and Jet Airways was tipped into bankruptcy.
Following the
report, the stock jumped 4.96 per cent to hit a high of Rs 29.60 on BSE.
Synergy Group, the sole potential bidder for Jet Airways, has
sought more time to take a decision on investing in the grounded airline
The airline in a regulatory filing last week told exchanges that the Committee of Creditors (CoC) would seek fresh Expression of Interest
Earlier this month, the National Company Law Tribunal (NCLT) had directed the CoC to expedite their decision on seeking fresh EoIs in view
of new interest being shown for the grounded airline.
Once a storied full-service carrier, Jet Airways stopped flying in April after it ran
out of money for daily operations
The airline is undergoing resolution process under the Insolvency and Bankruptcy Code (IBC).
State Bank of India - Punjab National Bank have
claimed $1.2 billion, while other creditors, like employees and lessors, are seeking Rs 6,400 crore from the airline, which is 24 per cent