Cloud over Jet Airways bid viability
The lenders to Jet Airways on Monday opened the bids for the troubled airline but there was no word from them on whether they had finally found a workable bid that could yield a credible resolution plan.
In the morning, State Bank of India chairman Rajnish Kumar told a news channel that the lenders would look closely at the bid submitted by Etihad Airways, which holds a 24 per cent stake in Jet.
Reports have indicated that Etihad has submitted a non-binding bid for Jet, refused to pump in more than Rs 1,700 crore and had indicated its desire to play the role of a minority partner in any resolution plan.
