Etihad Airways has completed the due-diligence process ahead of placing its financial bid for acquiring Jet Airways. Two other potential bidders — TPG Capital and the National Investment and Infrastructure Fund (NIIF) — have also begun the due diligence and may put in a joint bid with Etihad.
SBI Caps had opened the window on Monday for the potential bidders to vet the books of Jet Airways. The lenders have fixed May 10 as the last date for submitting binding financial bids.
“Jet Airways has provided a data room where all the necessary documents, information and data related to the airline’s assets, debt, costs, governance information and information on employee strength among other things have been opened up for the bidders,” said a source close to the lenders, adding that all the four shortlisted players continue to be interested in acquiring a stake in the airline.
