Lenders invite EoI for Jet; offer stake up to 75%

Last Updated: Mon, Apr 08, 2019 18:38 hrs
Jet Airways (Reuters image)

New Delhi/Mumbai: Lenders of the debt-ridden Jet Airways on Monday invited "Expression of Interest" for stake sale in the airline to recover their dues.

The document issued by the State Bank of India (SBI), lead lender in the consortium, offered a stake from 31.2 per cent to 75 per cent of the company on a fully diluted basis.

"...the Lenders, pursuant to the guidelines issued by the Reserve Bank of India, are in the process of formulation of a resolution plan for resolving stress in the company, inter alia, involving change in control and management of the company," the EOI document said.

The purpose of the EoI is to provide information about the company to enable interested parties to make assessment about the proposal prior to the submission of their bids.

The time period for submission of EoI has been fixed for April 10.