MUMBAI : Russia’s Far East Development Fund has shown interest to bid for Jet Airways (India) Ltd, said one person with direct knowledge of the matter, requesting anonymity. The Far East Development Fund was established by the Russian government for infrastructure financing. Jet Airways was grounded on 18 April 2019 as a result of a severe cash crunch. On 20 June, the Mumbai bench of NCLT had admitted Jet Airways under the Insolvency and Bankruptcy Code. Jet Airways shares lost 4.9% on Tuesday to close at ₹26.20 apiece on BSE, while the benchmark index, Sensex, lost 0.39% to close at 40,894.38 points.

Source: Mint February 18, 2020 18:11 UTC