Etihad Airways submits bid for Jet Airways

A Jet Airways is India’s second-largest full-service airline. More

A Jet Airways is India’s second-largest full-service airline. More

From a high of about 120 aircraft, Jet Airways, which has struggled with declining profits in the last few years, is down to fewer than 30 planes.

While Etihad Airways, sources said, has submitted expression of interest and intends to bid for 49 percent stake, former Chairman Naresh Goyal is also expected to join the fray.

However, reservations for Bengaluru-Amsterdam, Mumbai-Amsterdam and Mumbai-London will remain closed till April 18.

In an advisory posted on its Facebook page, Changi Airport said: "Jet Airways (9W) has suspended its services to and from Singapore until further notice".

At its peak, Jet Airways was operating nine services a day to and from Singapore; three each from New Delhi and Mumbai, two from Bangalore and one from Pune.

On April 3, Civil Aviation Secretary Pradeep Singh Kharola had said that Jet was operating less than 15 planes and its eligibility to fly on worldwide routes needs to be examined. Jet Airways on Thursday informed stock exchanges about the pledge.

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The cancellation comes even as the beleaguered Jet Airways is on the verge of being barred from operating global flights as its operational fleet has come down to 14 and any Indian airline needs a minimum 20 aircraft to be able to fly on worldwide routes. Passengers are advised to contact their booking agent or the airline directly for available options, it said.

SBI Caps has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of domestic lenders to the debt-ridden private carrier.

Banks will scrutinise the EOIs that are received by April 12 to see if they meet the criteria, and are qualified to submit bids. Though fuel supplies resumed after some hours, it was the second time that Indian Oil had taken such a decision.

A Jet Airways flight from Amsterdam to Mumbai was stopped from taking off at the Schiphol Airport by a European cargo company due to outstanding bills. He would not say whether Jet's operational fleet was now less than 20, only that it was in the double digits, according to the report.

Canadian airline Air Canada also remains in talks with lenders for a potential bid but has sought more time from banks for submission of EOI.

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