India's struggling Jet Airways starts bidding for stake
MUMBAI, April 5 (Xinhua) -- Lenders to India's beleaguered airline -- Jet Airways would invite bids for their stake on Saturday till April 9, a release issued by the State Bank of India on behalf of 26 lenders said, late Thursday.
The lenders would also explore other options if the stake sale process does not result in an acceptable outcome, the release said.
The struggling airline, saddled with a debt of over one billion U.S. dollars, prior to the debt restructuring proposal by the lenders, is currently operating 26 aircraft down from its fleet of 119 aircraft.