Jet Airways receives EOI days ahead of the Jan 15 deadline

Jet Airways has received two Expressions of Interest (EOIs), one of which is from a non-aviation company with high net worth, as informed by Ashish Chhawchharia, the Resolution Professional appointed for the debt-strapped airline to the Mumbai bench of NCLT during hearing on Wednesday.

He further informed NCLT that two more EOIs are likely to be filed before the deadline, January 15.

Earlier this Monday, the South American Conglomerate, Synergy Group which operates Colombian Avianca Airlines, had already submitted its EOI.

Reports suggest that Hinduja Group, Turbo aviation and Dubai-based fund have emerged as interested parties.

The insolvency court in November 2019 had asked the Committee of Creditors (COC) to release their share of the interim funding for the corporate Insolvency Resolution Process (CIRP).

However, the RP informed the court that COC has not released its share of the fund despite NCLT orders.

The court has directed the CoC to release funds immediately in order to avoid contempt.

The RP -who was promised INR 63 crore by the lenders, has received the shares from the lead lender, State Bank of India, and the two other lenders.

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