With three of the four potential bidders so far failing to show any enthusiasm in taking the Jet Airways deal forward, the airline is now left with no option but to move towards insolvency. "Jet Airways is as good as dead now. However, one of the airlines which did not participate in the EoI pegged the liability to be around Rs 25,000 crore. Mark Martin, founder and CEO of Dubai-based aviation Martin Consulting, said the lenders have played a very sad role in bringing Jet Airways to the situation it is in at present. Goyal's controlling stakes had become a major hurdle for the investment as the potential lenders, including Tata Group and Etihad, wanted him to step down.

Source: dna May 02, 2019 23:26 UTC