The lenders of cash-strapped airline Jet Airways met on Thursday and said that they have decided to invite expression of interest for sale of stake in the company.
Meanwhile, Civil Aviation Secretary Pradeep Singh Kharola said the carrier is operating with 26 aircraft and fulfills all criteria to fly internationally.
The lenders, led by the State Bank of India, met here to pursue the bank-led resolution plan for sale of stake in the company in a time-bound manner under the present legal and regulatory framework, the jet Airways said in a statement here.
This will be invited on April 6 while need to be submitted by April 9, 2019.
“The lenders are cognizant that the outcome of the efforts of the lenders will depend on the interest shown by the parties on sale of stake in the company,” the airline added.
Whilst all efforts will be made for the stake sale, the statement said and added other options may be considered by the lenders if these efforts would not result in an acceptable outcome.
On March 25, the airline’s board approved a debt-resolution plan under which the lenders would take control of the airline and also make an immediate fund infusion of Rs 1,500 crore. (UNI)
