Jet Airways dives 20% as bidders show no expressions of interest
NEW DELHI: Shares of Jet AirwaysNSE -17.48 % plunged over 20 per cent in Thursday’s trade as bidders for the debt-ridden airline showed no interest following up on their expressions of interest, dashing hopes of an early revival of the airline.
Three of the four qualified bidders — Etihad Airways, Indigo Partners and TPG Capital — have not signed nondisclosure agreements, a must for conducting due diligence, even as just ten days are left for final submission of bids, ET reported.
Bidders are showing reluctance, following the government’s decision to allocate Jet’s planes and slots to its peers.
