Two bids received for Jet Airways: ET NOW sources

The lenders to Jet Airways have received two bids for the cash strapped carrier, and none of the bids are from an airline. This is what ET Now has learnt reliably from sources close to the development. One of the bidders could be a fund.

SBI Capital, which has the mandate for Jet's sale decided to increase the bid submission deadline from April 10 to April 12th as its confident of other parties participating in the process.

Etihad, an existing equity partner in Jet, is believed to be one such interested party. Etihad's veteran Cramer Ball has in fact been meeting officials from SBI almost everyday.


Jet's lenders had decided last week to invite expression of interest for buying up to a 75% stake in the airline. This after a SC verdict on the RBI's February 12, 2018 circular foiled the banks plans for enforcing a resolution plan.