Etihad Wants to Be a Part of Jet Airways’ Insolvency Proceedings

Jet Airways shut down its operations on April 17 following the refusal by its lenders to advance any funds for its operations, The News Minute reported. Subsequently, State Bank of India filed an application with the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against the airline company. News has now come in that Etihad Airways has expressed its interest in the resolution of the Jet Airways imbroglio. Etihad is reported to have sent a communication to the lenders that it would want to be part of the revival of the company and it is even said that the lenders have in turn asked the foreign airline to first find an Indian partner and submit a formal bid. The Hinduja Group could be that Indian partner, though there is no official confirmation yet on that. Read more