MUMBAI: Etihad Airways PJSC said on Friday it has submitted a binding bid to retain a minority stake in Jet Airways, raising fresh hopes for a revival of the cash-strapped airline. Etihad owns 24% in Jet Airways and, under current rule, can take this up to 49%.
Friday was the last day for submission of sealed bids to SBI Capital Markets Ltd (SBI Caps) for prospective investors for Jet Airways.
Soon after submitting the sole binding bid, Etihad said in a statement that it has been working consistently with key stakeholders in India over the past 15 months to help find a solution that would ensure Jet’s return as a viable and competitive Indian airline, and continues to do so.
