Profit

Jet Airways Extends Deadline For Initial Bids To August 10

Jet was forced to ground all flights in April after running out of money and failing to secure funds.

 Share
EMAIL
PRINT
COMMENTS
Jet Airways Extends Deadline For Initial Bids To August 10

The bid submission deadline has been extended at the request of some prospective bidders, Jet said.


Mumbai: 

Highlights

  1. Jet was forced to ground all flights in April after running out of money
  2. Jet Airways and its lenders have been searching for new investors
  3. Jet was once ranked among the country's biggest airlines

Jet Airways has extended the deadline for initial bids for the bankrupt airline to August 10 from August 3, a statement from the company said on Saturday.

Jet, once ranked among the country's biggest airlines, was forced to ground all flights in April after running out of money and failing to secure funds, crippled by mounting losses as it attempted to compete with low-cost rivals.

The bid submission deadline has been extended at the request of some prospective bidders, it said.

Jet Airways and its lenders have been searching for new investors since its planes were grounded and staff left unpaid.

Lenders to the airline agreed on July 19 to provide interim financing to help it cover legal and other costs as bankruptcy resolution experts seek a buyer.



Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top