Jet Airways to search for new buyer

Reuters has reported Jet Airways has announced it will make another attempt to find a buyer, the news source said.

The company will relax the net worth requirement, giving bidders 15 days to make an offer.

The Committee of Creditors (CoC) of Jet Airways is set to invite fresh Expression of Interest (EoI) for the airline.

According to sources, during the e-meeting with the CoC, the Resolution Professional proposed a fresh round of EoI.

On March 15, the lenders were given 90 more days to find a buyer under the NCLT-led insolvency process. Last month, the Insolvency & Bankruptcy Board of India had said the lockdown period will not be counted in the timeline set to finalise resolution plans for stressed companies under the insolvency process.