NCLT option back on table for beleagured Jet Airways

The bids received for Jet Airways will be opened on May 10. If none of them are accepted by the lenders then the airline will be taken to National Company Law Tribunal

Jet Airways, which temporarily suspended operations on Wednesday, could soon find itself fighting at insolvency tribunals if none of the bids to save the airline turn out to be feasible.

The bids received for Jet will be opened on May 10. “The Insolvency and Bankruptcy Code option is back on the table. If none of the bids are accepted, the airline will face insolvency proceedings. The bids are the last chance to save the airline,” said an official, indicating liquidation may be a reality.

Meanwhile, a day after the airline ceased operations temporarily, government officials were struggling to understand why the lenders