According to sources, SBI Capital Markets (SBICAPs), which is overseeing the process of Jet Airways’ stake sale on behalf of Jet’s lenders led by SBI, received at least six initial bids from parties including private equity firms like TPG Capital, Indigo Partners, and Radcliffe Capital.
SpiceJet operates a fleet of 12 Boeing 737 MAX aircraft, while Jet Airways operates five of the Boeing's latest flagship narrowbody plane. However, Jet's planes were already grounded due to the airline's financial woes.
Earlier this week, Jet Airways said it has added 65 new weekly services to its domestic and international operations. Meanwhile, the company also announced stopping of free meals for most of its economy class passengers.
The latest directive follows advisories issued by US watchdog Federal Aviation Administration (FAA) and Boeing regarding the B 737 MAX planes after the crash of a Lion Air aircraft in Indonesia last month.
Most aircraft are required to be equipped with two black boxes – the cockpit voice recorder and the flight data recorder – that record the information about a flight and help reconstruct the events leading to an aircraft accident.