Not interested in Jet, says Anil Agarwal

Mumbai, August 12 

In the second major setback to the lenders bid to revive the grounded Jet Airways by selling it out, billionaire businessman Anil Agarwal, a day after announcing interest in the airline, Monday said he is no longer interested to pursue the deal.

With this, only two financial investors are left in the fray. Already deep-pocketed players like Etihad, which is already is an equity partner in the airline and also the Hindujas have backed out of the sale process.

On Sunday, Volcan Investment, Agarwal’s investment company said it had submitted the expression of interest on Saturday-the last day of the extended bidding process—in an exploratory manner to buy stake in the airline that stopped flying mid-April and since June under bankruptcy proceeding.

The lenders had extended the last date for submission of EoIs till August 10. — PTI

Etihad too backs out

• Gulf carrier Etihad on Monday said it has decided not to reinvest in the airline due to unresolved issues concerning liabilities
• Etihad holds 24% stake in beleaquered Jet Airways
• Jet Airways, which shuttered operations on April 17, is undergoing insolvency proceedings and at least three entities have put in initial bids for the carrier