Lenders of Debt-Laden Jet Air Offer to Sell Up to 75% Stake
- Jet Airways posted losses in nine of the past 11 years
- Potential bidders should submit their interest by April 10
A Jet Airways India Ltd. aircraft prepares to land at Chhatrapati Shivaji International Airport in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Jet Airways India Ltd.’s lenders invited initial bids to buy as much as 75 percent of the debt-laden carrier, starting a process that will determine the future of India’s oldest surviving private airline.
Potential buyers must submit their interest by April 10, State Bank of India Ltd., the lead creditor, said in a document Monday. A strategic bidder should have a net worth of at least 10 billion rupees ($144 million) in the preceding financial year, or at least three years of experience in the airline business.