MUMBAI: Bidders for Jet Airways so far appear uninterested in following up on their expressions of interest, dealing a major blow to the early revival of the airline.With just ten days to go for final submission of bids, three of the four qualified bidders — Etihad Airways TPG Capital and Indigo Partners — have not signed nondisclosure agreements, a must for conducting due diligence. But no stakeholder is hopeful.“We are staring at an obituary,” said an executive at one of Jet’s key lenders. SBI Capital Markets is running the bid process.ET on April 23 reported on the growing reluctance among key bidders after the government began allocating Jet’s planes and slots to its peers. Failure to do so will lead to a repossession of planes by the bank, said one of the people cited above. Jet already has 60 planes deregistered due to non-payment of lease rentals.

Source: Economic Times May 02, 2019 01:01 UTC