TPG Capital, Etihad, NIIF likely to bid for cash-strapped Jet Airways

Lenders' consortium, led by State Bank of India, has gone all out to work out a resolution plan for Jet despite several legal hurdles

Abu-Dhabi based Etihad Airways, a 24 per cent shareholder in Jet Airways, is evaluating its options to participate in a pre-bid process for the troubled airline as part of a bank-led resolution plan, sources in the know said.

Etihad, which had recently indicated to Jet lenders that it wanted to sell its stake in the airline founded by Naresh Goyal more than 25 years ago, is yet to confirm if it’s interested, keeping the stakeholders guessing.

The stake sale process of Jet kicked off on Monday, two days after its scheduled opening. Potential bidders have time only till Wednesday evening