Jet Airways may face liquidation in absence of strong bidders

The resolution of Jet Airways appears to have reached the end of the road, with Etihad Airways bowing out of the process. Liquidation may be the next course of action, sources close to the development told FE. The committee of creditors (CoC) for Jet Airways is likely to meet this week to finalise the way forward.

Jet Airways has been grounded since April 17, when lenders refused to extend emergency funding to carry out operations. Lenders to Jet Airways tried to sell the airline in April. At the time, none of the shortlisted potential buyers evinced interest in the airline except Etihad Airways, a strategic partner to Jet, which had put forth a conditional bid.