The government sees little hope of a bidder emerging for debt-laden Jet Airways Ltd., two senior finance ministry officials said, even as thousands of employees plead with the government for a rescue.
Parties that had initially expressed interest in Jet, which is saddled with roughly $1.2 billion of debt, have so far failed to make firm bids to bail it out, increasing the odds that it could soon face bankruptcy proceedings.
“There is little scope in the revival of Jet,” said one official, adding that if a bidder emerged, the government was still willing to return slots to the private airline which have temporarily been given to rivals.
