Etihad Airways has contacted the lenders to revive the non-functioning airlines, Jet Airways, weeks after the National Company Law Tribunal (NCLT) has approved the corporate insolvency resolution process (CIRP) against the Jet Airways, reported by Economic Times.
While Etihad has shown interest in participating in the CIRP of Jet, lenders have asked them to look for a majority Indian partner and make a formal bid that will be finally scrutinized and approved by NCLT.
Etihad and The Hinduja Group is in discussions to prepare a formal bid for Jet Airways.
The plea filed by State Bank of India (SBI) to start the insolvency process against Jet was admitted by NCLT on June 20 and committee of creditors (CoC) is expected to be formed by July 16.
