Jet Airways bid: Anil Agarwal’s Volcan Investments withdraws EoI
After Etihad declined to bail out Jet Airways on Monday, Anil Agarwal-led Volcan Investments has decided to withdraw its Expression of Interest (EoI).
On Saturday, Volcan Investments had submitted their EoI for a stake in the airline.
In a statement by the Agarwal’s family trust-led Volcan, the company said, “The EoI for Jet Airways by Volcan was exploratory in nature. On further evaluation and considering other priorities, we intend to not pursue this further.”
Why did Etihad step back?
In response to BusinessLine’s query, Etihad on Monday said that they have declined to lodge an expression of interest to reinvest in Jet Airways because of unresolved issues concerning Jet’s liabilities.
