Billionaire Hinduja brothers preparing bid for Jet Airways

NEW DELHI: The Hinduja Group is preparing a bid to buy grounded carrier Jet Airways India Ltd, according to people familiar with the matter.
The UK-based group, run by brothers Gopichand Hinduja and Ashok Hinduja, plans to submit an expression of interest by the January 15 deadline, signaling its intent to make a formal offer, the people said, asking not to be identified as the deliberations are private. Hinduja is seeking a partner to bid, one of the people said.
Creditors are seeking fresh bids for Jet Airways after earlier getting interest from only a single company, Synergy Group Corp. The Mumbai-based airline, which was once the country’s largest by market value, fell victim to a cut-throat price war initiated by a slew of budget carriers and eventually defaulted to banks, staff and lessors.