NEW DELHI: Employees of Jet Airways (India) Ltd and London-based investor Adi Partners LLP on Friday said they will jointly bid for a 75% stake in the debt-laden airline, which is facing bankruptcy proceedings.
The platform, comprising Adi Partners and a Jet employees’ consortium, will explore taking control of the airline through the National Company Law Tribunal (NCLT) process, and then seek to revive it through better governance and operational efficiency. It will also consider reducing the airline’s fleet size from the current 110 aircraft.
Sanjay Viswanathan, a non-resident Indian investor and chairman of Adi Partners— which was set up in 2010 in London—said he hoped to make a formal bid by the end of this month.
