​Jet Airways receives two bids

Grounded Indian carrier Jet Airways has received two bids as part of its sale process, according to a 23 July filing to the BSE.

Grounded Indian carrier Jet Airways has received two bids as part of its sale process, according to a 23 July filing to the BSE.

The airline’s resolution professional has received resolution plans from two prospective applicants, and these will be placed before the airline’s committee of creditors for its consideration, the filing adds.

Indian business and financial news service BloombergQuint reported on 22 July that one of the bidders is a consortium led by Imperial Capital and includes Flight Simulation Technique Centre and Big Charter. The other is a consortium of UK-based Kalrock Capital and UAE businessman Murari Lal Jalan.

Cirium has not yet independently verified this and has contacted Jet Airways’ resolution professional for comment.

Jet Airways is now in its fourth round of seeking expressions of interest. The airline’s resolution professional decided in May to exclude India’s coronavirus lockdown period from the timeline of the airline’s corporate insolvency resolution process.

This was originally due to expire on 13 June, but has now been extended to 21 August and could be extended furthe