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Published on November 19, 2019 Synergy Group, the sole potential bidder for Jet Airways, will get an extension only till December 16 to submit a final bid and a resolution plan. The South American company had asked to extend the deadline to February 2020. The Resolution Professional will have to seek an extension from the NCLT for another 90 days as the 180-day deadline ends on December 16. Sources in the know told BusinessLine that during the Committee of Creditors (CoC) meeting, the lenders had verbally agreed to extend the deadline to December 16 as opposed to Synergy’s request to extend the deadline to February 2020. One of the persons mentioned above said, “While the CoC has agreed, the voting among all members is paramount. Also, an extension till February 2020 is impossible because the summer slots will be gone as well.” The summer slots are allotted by January. On Monday, the Mumbai Bench of the NCLT had asked Synergy to make the representation in the court by or on December 3. Slot allocation According to another source, during the meeting it was discussed that the Amsterdam slots could be preserved. However, Synergy needs the Heathrow slots and clarity on Indian slots which were temporarily allotted to Indigo, SpiceJet and Vistara. “There is an announcement likely to come from the government in the next few days regarding the slots. This is also dependent on the kind of pressure SpiceJet, IndiGo and Vistara put on the government to retain those slots.” Before its grounding on April 17, Jet had the most premium slots in Mumbai and Delhi. The source added that even if the extension has been granted, there are a lot of variables that will determine the future of Jet Airways. He explained, “We have done a calculation and according to our plan, Jet needs at least $150-200 million for its revival. Should Synergy even put in a bid, the lenders should be willing to take a haircut — and that too a huge one.” Besides this, Synergy has to also find an Indian partner and propose a viable business plan for Jet’s revival. https://www.thehindubusinessline.com/economy/logistics/jet-airways-bidder-synergy-gets-extension-till-december-16/article30019017.ece
https://www.flightglobal.com/news/articles/etihad-prepared-to-reinvest-in-a-restructured-jet-458096/ 10 MAY, 2019 SOURCE: FLIGHT DASHBOARD LONDON Etihad Airways has flagged its willingness to commit fresh capital in order to remain a minority shareholder in a restructured Jet Airways. The UAE flag carrier says that "subject to conditions" it would be prepared to "reinvest" in Jet, in which it holds a 24% stake. It adds that it has been working consistently with key stakeholders over the past 15 months to help find a solution that ensures Jet's return as a "viable and competitive Indian airline", and continues to do so. But the Abu Dhabi-based operator warns that it cannot be expected to be the sole investor in Jet and that, "amongst other requirements", additional "suitable" investors would need to provide the majority of the required recapitalisation. Jet suspended operations last month after failing to secure emergency funding. The deadline for binding bids for the grounded airline from potential investors expired today. Etihad has not disclosed whether it made a submission. The State Bank of India, which is managing the sale process on behalf of a consortium of Jet's lenders, told Reuters today that two unsolicited bids had been received.
É público que há anos a Jet Airways vem passando dificuldades, mas agora parece que o calo está apertando: 7-Feb-2019 11:53 PM Jet Airways confirms four aircraft grounded due to failure to pay lessors Jet Airways, via a statement to the Bombay Stock Exchange, reported (07-Feb-2019) it grounded four aircraft "due to non-payment of amounts outstanding to lessors under lease agreements". The carrier stated it is "actively engaged with all its aircraft lessors" and regularly provides them with updates on efforts undertaken to improve its liquidity position. The carrier is "making all efforts to minimise disruption to its network due to the above and is proactively informing and re-accommodating its affected guests". In addition, Jet Airways announced that three aircraft grounded for engine normalisation are back in commercial operations. Fonte: CAPA