Jet lenders to make another attempt to find a buyer

Its over year since Jet Airways suspended operations but the lenders have decided to make another attempt to get a new buyer. The Committee of Creditors (CoC) of Jet Airways is set to invite fresh Expression of Interest (EoI) for the airline. The lenders at a meeting on Wednesday have decided to relax the networth requirement for prospective bidders.

According to sources, during the e-meeting with the CoC, the Resolution Professional proposed a fresh round of EoI. “The CoC has in-principle agreed to invite fresh bids as the players who had submitted their bids earlier round failed to submit a resolution plan prior to the deadline.”

Prudent ARC; a consortium of Enso Group and Russia-based Far East Development Fund; and South American Conglomerate Synergy group, were in the race to bid for the debt-strapped Jet. But none of them submitted a financial bid.