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Lenders get bids from Etihad Airways, few unsolicited parties for Jet Airways: SBI Caps

Jet Airways Stopped Operations On April 17 Due To Acute Financial Distress.

News Nation Bureau | Edited By : Abhinav Gupta | Updated on: 10 May 2019, 08:50:12 PM
Lenders get bids from Etihad Airways, few unsolicited parties for Jet Airways: SBI Caps

New Delhi:

SBI Caps on Friday said that the lenders have received bids from Etihad Airways and a few “unsolicited” parties for Jet Airways, keeping the hopes for the revival of the grounded carrier alive.

Earlier in the day, State Bank of India chairman Rajnish Kumar said the lenders have received two "unsolicited" bids for Jet Airways and "one" more is expected by the end of the day.

Kumar's statement led to shares of Jet Airways rise by nearly 3 per cent. The scrip went up by 2.85 per cent to close at Rs 151.80 on the BSE. During the day, it gained 6.91 per cent to Rs 157.80. In terms of traded volume, 21.26 lakh shares were traded on the exchange during the day.

The consortium of 26 lenders, led by State Bank of India, which now owns 51 per cent in the airline, had invited expressions of interest (EoIs) between April 8 and 12 and had received four preliminary bids.

Jet Airways stopped operations on April 17 due to acute financial distress.

The BSE had sought clarification from Jet Airways Thursday with respect to news that regional director report finds instances of siphoning of funds.

In a clarification to the BSE, Jet Airways Friday said, "Please note that the Regional Director, Western Region, Ministry of Corporate Affairs had, in September 2018, conducted an inspection and sought certain details and documents.

"Further details/documents were sought in April, 2019. The company had provided the required details/documents and no further communication has been received by the company in this matter."

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First Published : 10 May 2019, 07:51:50 PM