In the second major setback to the lenders bid to revive the grounded Jet Airways by selling it out, billionaire businessman Anil Agarwal, a day after announcing interest in the airline, said on Monday he was no longer interested to pursue the deal.
On Sunday, Volcan Investments, Mr. Agarwal’s investment company, said it had submitted the expression of interest on Saturday-the last day of the extended bidding process.
“The expression of interest submitted for Jet Airways by Volcan was exploratory in nature. On further evaluation and considering other priorities, we intend to not pursue this further,” the mining baron said.
