Ex-chairman Naresh Goyal opts out of bidding for stake in Jet Airways

Ex-chairman Naresh Goyal opts
Ex-chairman Naresh Goyal opts out of bidding for stake in Jet Airways

Ex-chairman Naresh Goyal opts out of bidding for stake in Jet Airways

Jet Airways founder Naresh Goyal has decided to opt out of bidding for acquiring a stake in the cash-strapped airline, sources revealed here on Tuesday. Jet Airways is currently operating less than 10 aircraft. It is awaiting fresh fund infusion under a debt resolution plan.

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Ex-chairman Naresh Goyal opts out of bidding for stake in Jet Airways
Ex-chairman Naresh Goyal opts out of bidding for stake in Jet Airways

Recently, sources revealed that the Tatas may seem interested in acquiring the cash-strapped Jet Airways that has been put on sale by Indian lenders.

According to the sources, the Tatas were planning to submit a bid. The last date for submission of bids was April 9. When Tatas were asked to comment on the same, a spokesperson of Tata said, “We do not comment on market speculation.” Tata group has already been running Vistara and AirAsia India in joint ventures.

Jet Airways
Ex-chairman Naresh Goyal opts out of bidding for stake in Jet Airways

Also Read: No sacrifice too big to safeguard interest of Jet Airways: Naresh Goyal on stepping down

On March 25, Naresh Goyal along with his wife, Anita Goyal stepped down from the board of the airline, they founded nearly 25 years ago. It has more than Rs 8,000 crore debt.

– PTC NEWS