Synergy Group, Prudent ARC fail to submit resolution plans for Jet Airways before February 17 deadline

Jet Airways has not received any concrete resolution plan from potential bidders Synergy Group and Prudent ARC ahead of the February 17 deadline.

Prudent ARC has asked for an extension to submit a binding bid, whereas Synergy may be out of the race.

On Tuesday, the Committee of Creditors (CoC) will discuss whether to give an extension or liquidate the assets of the debt-strapped airline.

According to two people in the know, Prudent ARC has asked for one more month.

Another person added that “Prudent has been in constant communication with the airline’s legal representatives and lenders. They have been given access to the data room and they look serious.”