Jet receives bids from two entities

THE TWO BIDDERS WERE AMONG THE FOUR CONSORTIUMS FINALISED BY THE RP

nMUMBAI/NEW DELHI: Jet Airways (India) Ltd has received resolution plans from two of the four potential bidders that were shortlisted to revive the bankrupt airline, a person with direct knowledge of the matter said.

A bid was received from a consortium comprising Uk-based Kalrock Capital and Uae-based entrepreneur Murari Lal Jalan, the person said, requesting anonymity.

A consortium of Haryanabased Flight Simulation Technique Centre, Mumbai-based Big Charter and Abu Dhabi’s Impebidders rial Capital Investments LLC also submitted an offer, the person added. Bidders had until July 21 to submit their offers.

Grant Thornton India’s Ashish Chhawchharia, the resolution professional appointed by lenders to Jet Airways, will now place the offers before the committee of creditors (COC) of the airline, said the person cited above.

The two bidders were among the four consortiums of potential

previously finalised by the resolution professional. Two parties who did not submit bids are Canada-based entrepreneur Sivakumar Rasiah and Kolkata’s Alpha Airways.

When contacted, resolution professional Chhawchharia declined to comment.

Jet Airways—once India’s biggest private airline—hasn’t flown since April 17, 2019 after it halted flights due to an acute cash crunch. The emergence of new bidders has rekindled interest in the residual asset value of the carrier which includes its brand value, air operator permit (AOP), a stake in a profitable frequent flyer programme and half a dozen aircraft.