Jet Airways stares at liquidation as Synergy Group yet to finalise plan

Colombia’s Synergy Group, the only entity which evinced interest in the grounded Jet Airways, has been “less enthusiastic than hoped for” in moving forward with discussions and is yet to submit a final resolution plan for the airline, sources told FE.

In the absence of a concrete resolution plan by November 15, the airline will be staring at liquidation, sources close to the matter told FE. “If a plan is not in place by November 15, we lose any chance of requesting for slots in the next year’s schedule, which is not a desirable proposition since Jet Airways has been grounded since April. Lenders may not be keen on further extending the resolution timeline. So, in the absence of a viable plan, liquidation will be the only choice,” the source said.