Shares of Jet Airways tanked 12 per cent on Thursday on reports that bidders of the now grounded airline appear uninterested in following up on their expressions of interest.
Potential bidders have so far failed to show any firm interest in bailing out the struggling airline, a source involved in the matter said, increasing the likelihood that the company will face bankruptcy proceedings.
However, representatives of an employees’ consortium that plans to bid for Jet Airways met officials of SBI Capital Markets on Thursday and discussed various issues related to the bidding process, according to a statement. SBI Caps officials detailed the process of bidding which is already underway, a statement issued by two staff unions said.
