After EOI submission, Synergy Group eyes 49% stake in Jet Airways

Govt norms mandate that substantial ownership and effective control of an airline must rest with Indian citizens

South America’s Synergy Group Corp is planning to pick up 49 per cent stake in Jet Airways. It will discuss co-investment options with its lenders and infrastructure companies, the group’s advisor told Business Standard. Synergy Group Corp, which owns majority stake in Avianca Airlines, South America’s second-largest airline, submitted an expression of interest last week to revive the grounded airline. 

It’s Bolivian born founder German Efromovich will visit India next month to discuss investment options with Jet’s lenders and Indian infrastructure companies. Government norms mandate that substantial ownership and effective control of an airline must rest with Indian citizens. 

“We intend to