Etihad, two others submit financial bid for Jet Airways

The State Bank of India-led consortium of lenders to Jet Airways said it has received bids from Etihad Airways and from a few unsolicited parties to acquire stake in the grounded airline.

The consortium of 26 lenders, which now owns 51 percent in the airline, had invited expressions of interest between April 8 and 12 and had received four preliminary bids.

The lenders are offering 31.2-75 per cent stake in the company on a fully diluted basis.

Friday was the last day to submit the financial bids from the qualified bidders.

SBI Caps, which has been mandated for the sale, in a statement said, "sealed bid from Etihad Airways has been received and the same will be submitted to lenders for examination."

It has also received a few unsolicited offers, which the lenders may deliberate on subsequently, the statement said, adding the banks are likely to evaluate bids next week.

Jet Airways ceased operations temporarily on April 17 due to acute financial distress.