Jet Airways sees new bidder interest, extends deadline to April 10

Potential bidders have emerged for a strategic stake in India’s Jet Airways, prompting the airline’s creditors to extend a deadline for expressions of interest. A consortium of creditors led by the State Bank of India (SBI) issued an EOI invitation for potential investors on April 8 and set a deadline of April 10 for responses. However, on April 10 SBI said the deadline for responses would be extended to 6 p.m. on April 12. SBI released a statement on behalf of the creditors confirming they had received some EOIs, and additional parties “have expressed desire to participate if additional time is provided.” Because of this, “in order to allow better participation in the process the [creditors] have agreed to extension of the timeline” for the EOIs. The statement did not reveal the identity of the bidders, but some local media reports say they include large investment groups and overseas airlines. After the EOI process, binding bids must be submitted by April 30.<br/>