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A team from the Russian Far East Asian Development Fund met with the CoC on Monday with Enso Group and expressed interest in Jet

twitter-logo PTI Last Updated: 20,202 Yue 19 Ri 09:37 IST
CoC extends deadline to March 10, Jet Airways gains new interest from Russian Far East Development Fund

Jet grounded in April 2019, owes bank more than Rs 80 crore

Sources said the grounded creditor committee (CoC) of Jet decided to extend the bid deadline to March 10 as the new entity has shown interest in the airline.

The deadline for Jet Airways' tender, which is in bankruptcy proceedings, ended on Monday.

The source said: "A team from the Russian Far East Asian Development Fund met the EnC Group on Monday with the CoC and expressed interest in Jet Airways."

In this context, the CoC extended the deadline for submission of bids to March 10.

Established in 2011, the Far East Development Fund is a national financial development agency. According to LinkedIn, the organization needs a flexible approach to project structure and financing. According to reports, the Mumbai-based Enso Group was hired by the fund to find Indian partners to form a consortium, which subsequently formally submitted a bid. According to its website, it is interested in various fields including oil and gas, metal mining, healthcare, infrastructure and real estate.

Earlier, South American conglomerate Synergy Group and New Delhi-based Prudent ARC had time to submit solutions. They reportedly failed to complete the task on time.

The cash-starved airline was grounded in April 2019 and owed banks more than Rs 80 crore, while airlines from the public sector were exposed to huge risks.

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