Jet Crisis: Investors back out of bidding process; staff to move SC against lenders
  • WebDesk BTVI
  • Apr 23 2019

As Jet Airways loses aircraft which have been taken and deregistered by lessors, investors such as Etihad, TPG Capital, Indigo back out of the bidding process as they see no value left in the airline. Etihad may even look at selling 51% stake in JPPL valued at $300 mn. On the other hand, airline employees are likely to move SC against lenders terming them responsible for the current state of the airline.