Jet Set, No Go: In the absence of buyers, Jet’s lenders to decide way forward today

Jet Airways is unlikely to take off again since lenders to the beleaguered airline have, so far, not received any proposals to revive the carrier. The deadline for submitting bids expired on Monday and the committee of creditors will meet on Thursday to take stock of the situation. Last month, the lenders had called for fresh expressions of interest (EoI) after a Russian government-backed entity, Far East Development Fund, showed early interest in the airline at the eleventh hour.

While atleast two other parties were understood to be interested, no formal plans were received till March 9, sources told FE. “No bids were received till the deadline. We will have to see what the CoC does now,” one person aware of the matter said.