Jet Airways crisis: Etihad Airways says will not express interest to invest in cash-strapped airline on unresolved liabilities

  • Grounded Jet Airways has invited prospective bidders to express interest and last week extended the deadline to 10 August

  • Etihad acquired 24% stake in Jet Airways in 2013, at a time when Jet Airways needed significant financial support

  • A total of three EOIs have been received for Jet Airways after prospective bidders were invited to express interest

Dubai: Abu Dhabi's Etihad Airways said on Monday it will not express interest in reinvesting in Jet Airways because of unresolved issues concerning the Indian airline's liabilities.

 Jet Airways crisis: Etihad Airways says will not express interest to invest in cash-strapped airline on unresolved liabilities

Representational image. AP

Grounded Jet Airways has invited prospective bidders to express interest and last week extended the deadline to 10 August.

Etihad acquired a 24 percent stake in Jet Airways in 2013, at a time when Jet Airways needed significant financial support, but since then the Abu Dhabi-based airline has been seeking "advanced solutions" to help resolve issues facing Jet Airways, it said.

"Etihad remained engaged in the process, but despite the endeavours of everyone involved there remained very significant issues relating to Jet Airways' previous liabilities," it said.

Etihad acquired a 24 percent stake in Jet Airways in 2013, at a time when the carrier had needed significant financial support.

A total of three EOIs have been received for Jet Airways after prospective bidders were invited to express interest, according to media reports.

“Nothing has changed at all in the last few months, the Jet deal has been stuck in a limbo and we haven’t moved forward. We are again back to the EOI stage and uncertainty remains,” said an aviation analyst, requesting anonymity.

Updated Date: Aug 13, 2019 08:29:18 IST