Etihad Airways Expresses Interest in Cash-Crunched Jet Airways' Revival, Lenders Ask Airlines to Find Indian Partner First
Jet Airways and Etihad Airways. (Photo Credit: Wikimedia Commons)

New Delhi, July 11: With the Union government mulling prospects of retrieving the cash-crunched Jet Airways, Etihad Airways on Thursday has expressed its willingness to resolve the debt-ridden airliner's imbroglio. The international airliner had reportedly sent a communication to the lenders stating that it wants to be part of the revival of the company.

According to a report, published in The New Indian Express, Etihad in its communication letter stated that lenders have asked them to submit a formal bid only after finding an Indian partner. It is speculated that Hinduja Group could be that Indian partner, however, there is no official confirmation as of yet. Even rumours of Tatas interested in the purchase of some of the assets of Jet Airways, though no confirmation has been made so far. Jet Airways Crisis: Govt of India Has No Role in Raising Funds, Revival Only Possible Under Insolvency & Bankruptcy Code, Says Aviation Minister Hardeep Puri

As per the details available, the lenders, led by State Bank of India (SBI), decided to initiate bankruptcy proceedings against the airline under National Company Law Tribunal (NCLT) after all attempts to rope in a buyer failed. Later in June, Union Civil Aviation Minister Hardeep Puri said in parliament that Union Civil Aviation Minister Hardeep Puri.

It is to be known that Jet Airways grounded all its flights on April 17 after attempts of all revival failed. Subsequently, the government re-allocated its slots and foreign traffic rights to rival carriers.