Jet Airways receive revised proposals from two bidders in it’s insolvency process.
“Post the discussions, both contenders submitted revised bids. Unless the lenders ask for more revisions, we may get a decision within a fortnight,” a senior executive told Moneycontrol.
One of the bidders were of Flight Simulation Technique Centre Pvt Ltd, Big Charter Pvt Ltd, and Imperial Capital Investments LLC. Both FSTC and Big Charter are led by aviator-turned-entrepreneur Sanjay Mandavia.
The second bid was from the consortium of London-based financial services firm Kalrock Capital and entrepreneur Murari Lal Jalan.
These were two of the 4 bidders shortlisted by the company.
In a statement on August 20, Ashish Chhawchharia, the resolution professional (RP) overseeing the process, said, “Once this assessment is complete, the CoC shall vote on the resolution plans… For any plan to be considered approved, it will need to secure the votes of at least 60 percent of the CoC members,”.
Jet Airways owes over Rs 8,000 crore to the banks.The airline had suspended operations in April 2019.
Recently, the airline company acquired 6 Boeing aircrafts. Read here
