Creditors try again to woo new investors for Jet Airways

The resolution professional handling the insolvency of Jet Airways has again extended the expression of interest process in hopes of finding investors willing to revive the stricken carrier. A deadline of Aug 31 has been set for parties to lodge their interest, with a provisional list set to be issued Sept 3, before a final listing Sep 12. Resolution plans will then have to be submitted by Oct 14, with approval of the successful plan expected two weeks after that. It is the second time that resolution professional Ashish Chhawchharia has extended the EOI deadline to find an investor for Jet, likely indicating that there were no suitable bids submitted by the previous Aug 10 deadline. Any new investor is likely to demand that creditors and banks write off a large portion of the debts owed by Jet <br/>