On Tuesday, 18th February 2020, the Committee of Creditors(CoC) of Jet Airways decided to extend the deadline for submitting bids to March 10. According to a source, a new body had indicated interest in the airline, due to which the deadline has been extended.
The airline, Jet Airways which is undergoing insolvency, had a deadline to get bids from interested bodies that ended on Monday.
The source said, “A team from Far East Asia Development Fund of Russia along with Enso group met the CoC on Monday and has expressed interest in Jet Airways.”
The Far East Asia Development Fund is a state financial development institution which was set up in 2011. As per its Linkedin profile it has a flexible approach towards structuring and financing projects.
The Enso Group has reportedly been in search of an Indian partner to form an association that could later put in a formal bid. As per its website, it has interest in diverse sectors like, oil and gas, healthcare, metal mining, and real estate too.
Previously, the New Delhi based Prudent ARC and the South American Synergy Group were given time to submit a resolution plan. According to sources, they failed to meet the deadline.
Jet Airways, which was grounded in April 2019, reportedly owes more than Rs. 8000 crore to banks.
