Hyderabad: Debt-ravaged Jet Airways., the country’s biggest full-service airline, is leaving no stone unturned to save the airline. After Etihad Airways decided to be a minority shareholder and promised to invest Rs 1,700 crore, banks are also looking for other bidders as well.
Banks are approaching unsolicited bidder that includes a former passenger service agent, a member of an influential Indian political family, a US-based professor and also a former head of a Bengaluru software company.
The bidders submitted their offers on May 10 which was the deadline.
Talking about the bidders, have a look here:
An ex-British airline check-in and self-service kiosk agent James Unsworth is one of the bidders. He later became an entrepreneur and founded Atmosphere Intercontinental, a premium airline that is yet to begin operation. He said to a leading daily that he has hope that the airline will be revived and his addition would add value as he had ample experience in the field.
Darwin Group: Another bidder is the Mumbai-based Darwin group that primarily functions in information technology, pharmaceuticals, power and shipping space. They offered to invest nearly Rs 14,000 crore. The group's chairman Ajay Harinath Singh reportedly belongs to a 'very influential' political family from Sultanpur in Uttar Pradesh.
The third bidder for Jet Airways is Adi Partners which is a London-based investment firm. Company head Sanjay Viswanathan says that they would back and support Etihad (Airways) in turning around Jet Airways. The firm said that they have roped in big investment banks for a potential transaction.
The fourth entity is a consortium of small investors led by a college professor based out of Florida. The entity aims to raise Rs 21, 500 crore for the airlines.
Also Read: Etihad Sends In Binding Bid For Jet Airways