Jet Airways on Tuesday became the latest Indian airline to distance itself from Air India disinvestment process.
"We welcome the government move to privatise Air India. It is a bold step. However, considering the terms of offer in the information memorandum and based on our review, we are not participating in the process," Jet Airways CEO and CFO, Amit Agarwal said.
Earlier, IndiGo had opted out from the Air India disinvestment saying it was only interested in Air India's international operations and not its domestic operations.
IndiGo was the first airline that had officially expressed an interest to buy the national carrier when the government had mooted the plan last year.
Starting the disinvestment process, the government has released detailed preliminary information memorandum, detailing plans to offload up to 76 per cent stake in Air India and transfer the management control to private players.
The last date for submission of Expression of Interest (EoI) is May 14 and intimation to the qualified interest bidders would be made on May 28.