Jet Airways crisis: Employees step in to bid for airline's revival

Employees consortium claims it can secure an investment of Rs 3,000 crore to kick-start operations and settle dues

A section of Jet Airways employees have come forward to bid for the carrier, which had suspended operations on April 17. 

An ‘employees’ consortium’ comprising pilots and engineers, among others, wrote to the 

State Bank of India on Monday, offering to secure an investment of Rs 3,000 crore to kick-start operations and settle dues.

SBI Capital Markets Ltd is engaged in finding an investor for Jet Airways, which shut operations due to lack of funds. 

Four parties, including the airline’s strategic partner Etihad Airways, private equity firms TPG and IndiGo Partners as well as sovereign fund NIIF are eligible to participate in the bidding