TPG, Etihad Airways express interest to acquire a stake in Jet Airways

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Jet Airways foreign partner and UAE’s second largest airline Etihad Airways willing to invest in the beleaguered carrier and will be taking part in the bidding to acquire additional stake in the airline, sources told CNBC-TV18.

As per sources, Etihad is seeking to buy 37% stake in Jet Airways which will take its overall stake to 49%. Currently, gulf carrier has 24% stake in the airline but this will soon be halved to about 12% after the SBI led consortium becomes the majority stakeholder.

Earlier, on 25th March Jet Airways founder Naresh Goyal along with his wife de-boarded the from management board and chairman’s post along with his wife Anita Goyal due to rising pressure from lessors and continuous grounding of Jet Airways planes.

Also Read:Jet Airways : Ending months long saga, Naresh Goyal. wife resign from board

Apart from Etihad Airways, American investment firm TPG has also shown interest in the debt-laden airline, said the sources to CNBC-TV18. It had last year shown interest in acquiring a stake in Jet Privilege.

Earlier as per media reports, National Infrastructure Investment Firm (NIIF) was also willing to own about 20% stake in the airline. And may soon invest in carrier to buy the stake. Apart from these, Tata group which has stake in two airlines AirAsia and Vistara Airline, is also looking to buy stake in Jet Airways.

As per SBI Chairman Rajnish Kumar said in an interview that the bidding process from new investors will begin on 9th April and the bidding process will end by April 30. He said that the new investors will come by come May 31.

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