moeman Posted April 10, 2019 Share Posted April 10, 2019 https://www.thehindubusinessline.com/money-and-banking/air-canada-is-dark-horse-in-race-for-jet-airways/article26798980.ece Quote Air Canada has emerged as the dark horse in the race to acquire Jet Airways. The Canadian airline, along with Etihad, is among the top contenders for the debt-laden Indian airline. Heartened by the interest from these foreign carriers, State Bank of India, the lead lender to Jet Airways, on Wednesday extended the deadline for Expression of Interest to April 12. “The earlier deadline was set for April 10 but some of the international airlines that are interested asked for more time. There are more than two investors who are interested in putting in a bid,” said a top source. According to another source, Air Canada has sent a written application to the state-run bank seeking an extension. According to one of the persons cited above, “Since Air Canada is an overseas airline and there is a time difference with India, the airline needs time for due diligence. The lenders have agreed to give an extension.” Malaysian carrier Air Asia and Tata Sons joint venture Vistara are also understood to be among those who have sought a clarification from lenders. Jet Airways’ current joint venture investor Etihad Airways had also confirmed its interest in bidding for the beleaguered airline. After April 12, lenders will examine the eligibility of all those who have expressed interest. Thereafter, the eligible bidders will have to sign a non-disclosure agreement (NDA) after which the company will be given some time to examine the books of the airline. “The qualified bidders will be expected to submit their respective binding bid(s) latest by April 30 subject to the terms set out under the bid document,” SBI Capital Markets said in a notice posted on its website. Link to comment Share on other sites More sharing options...
dagger Posted April 10, 2019 Share Posted April 10, 2019 I don't know how this would even work. I wonder if the State Bank of India is using AC as a stalking horse to push Etihad. Makes much more sense for Etihad to take one Jet, assuming it's a worthwhile investment for anyone. Link to comment Share on other sites More sharing options...
moeman Posted April 10, 2019 Author Share Posted April 10, 2019 Would their nine A330s be of interest to us? Link to comment Share on other sites More sharing options...
dagger Posted April 10, 2019 Share Posted April 10, 2019 5 minutes ago, moeman said: Would their nine A330s be of interest to us? I can't answer that but I don't think they have to invest in the airline to add A330s. The questions about AC and Jet would be many, in fact more than I can even think of without wasting my time posting them. That's why I am highly skeptical about this and suspect someone is using AC's good financial standing to prod other investors. Link to comment Share on other sites More sharing options...
AIP Posted April 10, 2019 Share Posted April 10, 2019 4 hours ago, dagger said: I can't answer that but I don't think they have to invest in the airline to add A330s. The questions about AC and Jet would be many, in fact more than I can even think of without wasting my time posting them. That's why I am highly skeptical about this and suspect someone is using AC's good financial standing to prod other investors. 777's perhaps ??? What about slots ?? LHR ?? PEK ?? PVG ??? any others that may be of interest ??? Link to comment Share on other sites More sharing options...
FA@AC Posted April 10, 2019 Share Posted April 10, 2019 I doubt that AC is interested in additional slots in China at the moment. Yields there have been low for a while, and AC has reduced capacity by switching 777s to 787s on some flights to PVG and HKG. I'd be surprised if Jet's LHR slots were of interest either given the worsening mess in the UK. Link to comment Share on other sites More sharing options...
conehead Posted April 11, 2019 Share Posted April 11, 2019 Lol! According to one of the persons cited above, “Since Air Canada is an overseas airline and there is a time difference with India, the airline needs time for due diligence. The lenders have agreed to give an extension.” Link to comment Share on other sites More sharing options...
moeman Posted April 11, 2019 Author Share Posted April 11, 2019 Seems Delta is also interested. Shttps://www.livemint.com/market/mark-to-market/jet-airways-stake-sale-draws-interest-from-four-firms-1554938647165.html Link to comment Share on other sites More sharing options...
Kasey Posted April 12, 2019 Share Posted April 12, 2019 All flights cancelled............ https://www.bbc.com/news/business-47905089 Link to comment Share on other sites More sharing options...
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