Singh's Darwin Platform Group is the third unsolicited bidder to stake a claim for revival of the grounded airline
The airline industry in India has already witnessed similar meltdowns with SpiceJet making a spectacular turnaround after a similar situation
The Hinduja Group is non-committal but will keep its options open
Government remains 'committed to the strategic sale of Air India', says Jayant Sinha.
Chief Executive Vinay Dube and Chief Financial Officer Amit Agarwal of Jet Airways resign.
Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17
Amit Agarwal had been named as the deputy chief executive officer of the airline in 2017
In 2013, Etihad bailed Goyal out when he sank into a financial mess by taking a 24 per cent stake in Jet for $397 million
Airline is saddled with roughly $1.2 billion in bank debt; deadline to buy a stake is over.
Jet, once India's largest private airline, stopped all flights on April 17 after its lenders, led by State Bank of India, declined to extend more funds to keep the carrier going
Etihad acquired its share in Jet Privilege Private (JPPL) nearly six years ago in compliance with all regulatory requirements.
Offer unlikely to be considered now
The downfall of Jet Airways has produced at least one long-term winner, one short-term gainer and a few fence sitters
Two senior finance ministry officials say debt-laden Jet Airways may soon face bankruptcy.
Three of the four qualified bidders - Etihad Airways, TPG Capital and Indigo Partners - have not signed non-disclosure agreements which is necessary for conducting due diligence, the paper said.
The grounding of Jet has come as an opportunity for the market to hire a readily-available skilled workforce from the licensed categories
The associations have promised that employees would contribute towards revival of the airline from their future earnings and increased productivity
It was the first suicide of an employee since the airline suspended operations
Pioneers don't want others to follow in their wake
Jet's slots at various airports have already been distributed to other domestic airlines for three months