Economy

Jet's EoI submission date extended

Jet's EoI submission date extended”

The airline's operations were not effected during the day, as other retailers continued to supply fuel to its aircraft.

Apart from vendors, the airline's aircraft lessors too are upset with the current financial situation, with some of them requesting the Directorate General of Civil Aviation (DGCA) to de-register their aircraft leased to the company.

The country's largest oil marketing company (OMC) Indian Oil Corporation (IOC) has once again stopped fuel supply to Jet Airways.

Potential bidders can send their queries till April 11, it said hours before the Wednesday deadline for the submission of bids was to expire.

"While all soft copies of the EoIs are required to be submitted by the due date, the hard copies may be submitted by April 14, 2019", the lender said in a set of clarifications issued regarding the bid document.

The lenders have offered a stake from 31.2 to 75 per cent of the company on a fully diluted basis.

In another development, the airline was forced to delay its Amsterdam-Mumbai flight (9W231) after a European cargo agent seized one of its B777 for non-payment of the dues to his company.

Meanwhile, cargo handler Worldwide Flight Services (WFS) has seized a Jet Airways Boeing 777 at Amsterdam Schiphol Airport because of unpaid fees.

Jet Airways' troubles seem to have caught up with its passengers at Schiphol airport, 6,374 km away. "Accordingly, in order to allow better participation in the process the domestic lenders have agreed for extension timeline for submission of EoI which have been updated and made available on the websites", SBI Capital Markets Limited said in a statement.

Lenders, led by State Bank of India, took control of Jet Airways in March after its Founder and Chairman Naresh Goyal gave up control to resolve the crisis.

The airline has had to ground more than three-fourths of its fleet due to non-payment of lessors' rentals and is operating with just 25 planes out of its original 123.

The airline has confirmed the cancellation of the said flight attributing to "operational reasons".

Shares of Jet Airways declined 1.59 per cent to close at Rs 263.40 apiece on the BSE.



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