Jet lenders extend deadline till March 9 for bid submission

With two entities seeking more time, the lenders to Jet Airways have decided to extend the deadline for the submission of resolution plans to March 9.

Enso Group, in a consortium with the Russian government-owned Far East Development Fund, met the Committee of Creditors (CoC) of the debt-strapped airline on Tuesday to express its interest. Prudent ARC also seems to be still in the race to acquire a stake in the airline.

South American conglomerate Synergy Group appears to be out of the race, as it has not put forward a resolution plan.

BusinessLine had reported that Prudent had asked for a month’s deadline extension as it was still evaluating the merits of investing in Jet Airways. The 270-day timeframe prescribed under the Corporate Insolvency Resolution Process (CIRP) will end mid-March.