A section of grounded Jet Airways’ employees comprising members of airline unions have written to SBI Caps seeking asset and other financial details of the crisis-hit company for raising $700 million (Rs 4,917 crore) from a mix of domestic and foreign investors.
SBI Caps is the transaction advisor for the lenders of Jet Airways and managing the stake sale process for the debt-laden carrier. The State Bank of India (SBI) is the lead lender and currently in management control of the airline.
“We would like to assure you that our resources are at your disposal if they can be of any help. Also, as understood by us during the meeting of 2nd May, we are actively working with potential Indian and foreign investors to secure equity based funding commitment of $700 million,” Capt. P.P. Singh, Senior Vice President at Jet Airways, wrote to SBI Caps.
