Airlines, private equity firms renew interest in grounded Jet Airways

Potential buyers want lenders to take up to 95 per cent haircut

Grounded Jet Airways, which has been dragged to the insolvency court, could now find a fresh line-up of suitors keen to strike a bargain. Airline companies and global private equity funds have begun exploring the feasibility of bidding for Jet through the Insolvency and Bankruptcy Code (IBC) route. The caveat is that potential buyers want lenders along with lessors and vendors to take a deep haircut—as much as 90 to 95 per cent write-off on their dues.  

Lenders’ consortium, led by the State Bank of India (SBI), had on Monday decided to take Jet to the National Company Law Tribunal