Jet Airways: Synergy Group Seeks More Time to Put In Final Bid for Airline

The Colombian Synergy Group, the sole entity interested in Jet Airways, has sought time till November 30 to complete its due diligence and put in a formal bid for the grounded airline, sources said. The committee of creditors (CoC) for Jet Airways may give the group time till the end of October, The Financial Express reported. The resolution of the airline will consequently get delayed further. “The Synergy Group has not yet found an Indian partner. They are also taking time to complete due diligence and prepare a business plan. They have sought time till November 30, but that is not feasible since the plan needs to be in place in time for the government to allot slots for the summer schedule,” a person involved in the discussions said. The summer season schedule starts from the last Sunday of March. Read more