Jet Airways employee consortium has joined hands with AdiGroup to bid for 75 percent in the airline through the NCLT process.
“We are delighted that AdiGroup stepped up to partner with us in this challenging yet exciting journey to revive Jet Airways,” said Capt. Ashwani Tyagi of Jet Airways Employee Consortium.
The Mumbai bench of the tribunal had on June 20 admitted the insolvency petition of State Bank of India (SBI) to sell Jet Airways. This followed a meeting of all lenders, 27 of them, on June 17, and it was decided to pursue insolvency proceedings under the Insolvency & Bankruptcy Code (IBC).