UAE firm to bid for India’s Jet Airways

UAE firm to bid for India’s Jet Airways

Currently, four companies have been shortlisted to bid for Jet Airways.





The UAE-based Imperial Capital Investments LLC has been shortlisted to bid for India's once troubled carrier Jet Airways and will submit documents around mid-July, a senior official said on Sunday.

"We will submit our final documents by mid of July. But it may take a couple of days more because of the extension of the pandemic lockdown in India. Hence, there could be difficulty in traveling and we need some key people from our side to travel inside as well as to India to conclude the final documents," said Biraja Jena, chairman of Imperial Capital Investments.

Currently, four companies have been shortlisted to bid for Jet Airways.

Imperial Capital is bidding along with its partners Flight Simulation Technique Centre Pvt Ltd, Big Charter Pvt. Ltd along with the other short listed consortium which include UK's Kalrock Capital Partners, Canada-based entrepreneur Sivakumar Rasiah and Kolkata's Alpha Airways.

A number of companies - including the UK-based Hinduja Group - had submitted bids for the grounded airline but were rejected by the creditors. The cash-strapped airline stopped all operations indefinitely in April 2018 after a consortium led by government-owned State Bank of India declined