IndiGo Airlines wants to bid for grounded Jet Airways' assets and slots

Jet assets include three B737 planes, 49.9% stake in Jet Privilege, and slots across domestic and international airports

IndiGo Airlines is interested in bidding for some of the assets as well as slots of Jet Airways. However, it has ruled out acquiring the Naresh Goyal-founded airline, which closed operations in April and is now under the insolvency process.  

According to Section 29 of the Insolvency and Bankruptcy Board of India (IBBI) Regulations, any resolution professional (RP) has the powers to sell unencumbered assets of the corporate debtor “if he’s of the opinion that such a sale is necessary for a better realisation of value”.  But the rider is that it can be done only if the book value