Jet Airways’ lenders look to sell majority stake in debt-laden carrier
Bidders have until tomorrow to put in offers for beleaguered Indian airline Jet Airways, which is being sold off by its lenders.
Interested parties are required to pay off the airline’s existing debt as part of any deal.
Jet Airways, which was at one time India’s largest privately-owned airline, was recently bailed out by a consortium of lenders led by the State Bank of India.
The consortium is seeking bids for up to a 75% stake from individuals or other consortia made up of up to three companies each.
Bloomberg reports investment firms Blackstone and TPG Capital are among the suitors.
Current investor Etihad Airways also remains in the frame, and may bid to increase its current 24% stake.
There is some speculation Singapore Airlines, perhaps through its existing Indian joint venture Vistara, Lufthansa, and a Delta Air Lines-Air France-KLM consortium are also mulling a bid.
The lenders said other options are on the table if the stake sale ‘does not result in an acceptable outcome’.
Jet Airways has been forced to ground planes and cut services, including flights from Manchester, due to its financial crisis. It owes millions in payments to lenders and its own staff.
TravelMole Editorial Team
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.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025