Industry

Jet Airway’s lenders may invite EoI afresh

CoC to vote on decision in two days

Jet Airways’ resolution professional Ashish Chhawchharia on Thursday informed the National Company Law Tribunal (NCLT) Mumbai that the Committee of Creditors (CoC) of the grounded airline were considering to float an advertisement to invite Expression of Interest (EoI) from some new interested parties.

He said the CoC would vote in two days on whether a fresh EoI would be invited.

The NCLT, which was hearing the case on Thursday, directed the CoC to take all aspects into consideration and decide on the fresh EoI process. Thursday’s hearing was mainly to provide the Synergy Group of Brazil the opportunity to clarify its stance to submit a binding bid for Jet Airways.

According to lawyers, the representative of Synergy Group had said that they would be interested if Jet Airways would be handed over to them without any liabilities. They said all the domestic and international slots of Jet Airways, including those at London Heathrow, must be made available. However, the NCLT made it clear that Synergy cannot be given any special treatment and it should expedite the process.

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Printable version | Feb 24, 2020 4:44:17 AM | https://www.thehindu.com/business/Industry/jet-airways-lenders-may-invite-eoi-afresh/article30351439.ece

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