Dubai – Mubasher: Etihad Airways has reportedly submitted a bid to acquire a minority stake in India’s Jet Airways, a State Bank of India’s (SBI) unit overseeing the deal stated.
Etihad’s spokesperson revealed earlier that the UAE carrier was interested in re-investing in the indebted airline subject to certain conditions, Reuters reported.
“Etihad cannot be expected to be the sole investor and additional suitable investors would need to provide the majority of Jet Airways’ required recapitalisation,” he added, quoted by the international news agency.
Drown in dept, Jet Airways stopped all flights from 17 April after its lenders, led by SBI, refused to extend more funds to maintain the carrier’s operations.
