Deals
Jet Airways Creditors Wait for Takeover Bids as Deadline Looms
- Expressions of interest for indebted airline due Wednesday
- Much rides on airline’s survival before Indian elections
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The fate of debt-laden Jet Airways India Ltd., the country’s oldest surviving private airline, could be determined as soon as a creditor-imposed deadline for takeover bids runs out on Wednesday.
Creditors led by State Bank of India had not received any bids for as much as 75 percent of Jet Airways as of Tuesday, though that doesn’t mean that offers won’t come in on the final day, people familiar with the matter said, asking not to be identified discussing a private matter. Questions abound from potential bidders, including debt levels and how much of a stake will actually be available for sale, the people said.