Lenders revise bidding norms for Jet, drop aviation experience clause

Bidders will need to have a net worth or assets under management of Rs 1,000 crore to be able to participate in the bid

The committee of creditors (CoC) is learnt to have finalised the bid criteria for Jet Airways under the insolvency process, dropping the aviation experience clause. The CoC has also approved an interim funding of $10 million (Rs 68 crore) to support the airline. 

Jet Airways shut down on April 17. Last month, lenders referred the airline to the insolvency court after finding no buyers. A fresh attempt is being made to revive the airline and an expression of interest will be issued on Saturday.

Bidders will need to have a net worth or assets under management of Rs 1,000 crore to be