Etihad, Goyal likely to bid for Jet, NIIF interested: Sources

TIL Desk/Business/Mumbai/ Even as former Jet Airways’ Chairman Naresh Goyal is expected to submit initial bids to purchase stake in the airline, the state-run National Investment and Infrastructure Fund Limited (NIIFL) has shown interest in the cash-strapped carrier’s stake sale initiated by the lenders’ consortium, sources privy to development said on Thursday.

According to industry insiders, the UAE-based Etihad Airways has also shown interest in the Jet stake sale and is in touch with SBI Caps, the firm mandated to carry out the sale on behalf of the banks’ consotorium.

“It is very likely that Goyal will participate in this particular process. However, an NCLT (National Company Law Tribunal adjudicating in insolvency cases) process will not allow ex-promoters to participate in the stake sale,” an industry source told.