Avianca Holdings parent submits bid for bankrupt Jet Airways
The parent company of Colombia based airline group Avianca Holdings has for submitted a bid for bankrupt Jet Airways.
Synergy Aerospace filed an expression of interest for the grounded carrier as Jet’s lenders extended the deadline for bids until the end of August.
Synergy has shown ‘genuine interest’ and started initial talks with the bankruptcy administrator, although it is still a non-binding bid at this stage.
At the moment only one other company, Russian investment firm Treasury Creator, has been added to the shortlist as a confirmed bidder.
South American based Avianca has a fleet of nearly 200 planes and hubs in Colombia, Ecuador, and Peru.
Meanwhile, Jet Airways’ lenders are mulling injecting about INR100 million to clear some of the salary arrears still owed to employees and to maintain the few aircraft is still has left.
Any investment deal could still be problematic as former owner Naresh Goyal is embroiled in a criminal investigation over alleged money laundering.
According to India’s Enforcement Directorate, Goyal has allegedly siphoned off millions in loans destined for Jet Airways and could soon be indicted under anti-money laundering laws.
Goyal is currently banned from leaving the country.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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