Etihad, Three Others Bid For Jet Airways, Says SBI Caps As Deadline Ends

PUBLISHED ON: May 10, 2019 | Duration: 2 min, 12 sec

  
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SBI Capital Markets, a subsidiary of State Bank of India, has received a solicited bid from Etihad Airways and three unsolicited bids for the now-grounded Jet Airways in an ongoing stake sale. The development comes as the deadline for submitting bids under the stake sale ended today at 6:00 pm. Jet Airways' lenders have taken a controlling stake in the airline, and are currently in the process of selling a stake to recover their dues. Struggling with a debt of more than $1.2 billion, the cash-strapped airline owes money to lessors, suppliers, pilots and oil companies.
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