Jet Airways, the Indian carrier that suspended operations last year amid financial difficulties, has launched a fourth search for a buyer.
A document on the Mumbai-based carrier’s website, a version of which was also published in various Indian newspapers, sets a deadline of 28 May 2020 for expressions of interest.
Jet Airways will then publish a final list of prospective resolution applicants on 10 June 2020. It estimates that these will then be submitted to an “adjudicating authority” around 23 July 2020.
Separately, the airline said in a 13 May stock exchange disclosure that its plan to sell its business in the Netherlands to Dutch carrier KLM has failed to receive regulatory approval. Airport Coordination Netherlands, an airport slot coordinator, on 11 May denied approval for the deal.
Jet Airways started operations on 5 May 1993 as an air taxi operator with a fleet of four leased Boeing 737-300s, and in January 1995 was granted scheduled airline status, the airline says. It made its first international flight from Chennai to Colombo in March 2004, before being listed on Indian exchanges in February 2005. Due to financial distress and an inability to service scheduled debt obligations, it was forced to suspend operations on 17 April 2019.
