Shares of Jet Airways Ltd tumbled over 20 percent to a decade low on Thursday after a media report said bidders for the struggling airline had not yet shown interest in following up on their offers.
Three of the four qualified bidders – Etihad Airways, TPG Capital and Indigo Partners – have not signed non-disclosure agreements necessary for conducting due diligence, with just days left now to submit their final bids, the Economic Times newspaper reported, citing sources.
The bidders have until May 10 to submit their offers, but stakeholders are not hopeful, the paper said.
