MUMBAI: A group of minority share holders of Jet Airways (India) Ltd., have sought permission from SBI Capital Markets Limited (SBI Caps), which is running the bidding process for the cash-strapped airline, to present a proposal to lenders that would revive the airline.
In a letter dated 25 April and addressed to SBI Caps, Sankaran Raghunathan, representing minority shareholders and frequent flyers of Jet Airways, said that Jet Airways’ lenders should not entertain any proposal or bid from any party that seek haircut from banks on the debt obligations of the airline, as this would result in a loss for the banks.
A copy of the letter has been reviewed by Mint.
