Jet Airways Employee Consortium, AdiGroup to bid for 75 per cent of airline

NEW DELHI: In a first-of-its-kind initiative, a Jet AirwaysNSE -3.32 % Employee Consortium and AdiGroup Friday announced a partnership to bid for 75 per cent of the airline through the NCLT process, members of the consortium said.

The debt-laden company became the first domestic airliner to go into bankruptcy after the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by the SBI on behalf of 26 lenders on June 20.