MUMBAI: Bidders for Jet AirwaysNSE -17.61 % so far appear uninterested in following up on their expressions of interest, dealing a major blow to the early revival of the airline.
With just ten days to go for final submission of bids, three of the four qualified bidders — Etihad Airways, TPG Capital and Indigo Partners — have not signed nondisclosure agreements, a must for conducting due diligence. None of the bidders, barring National Investment and Infrastructure Fund (NIIF), has been accessing the data room where potential investors are supposed to peruse Jet’s accounts and key documents as part of the due diligence. They have till May 10 to submit their bids. But no stakeholder is hopeful.
