INSUBCONTINENT EXCLUSIVE:
The committee of creditors (CoC) to Jet Airways approved raising interim loans of up to Rs 70 crore to keep the grounded airline alive for
Bankers also approved the contours of a fresh bidding process for the carrier, fresh initial bids for which would be sought from potential
investors Saturday.
The funds will be used to maintain aircraft and also pay some vendors to keep some critical services like IT systems
The potential investor has to have a net worth of Rs 1,000 crore or assets under management of Rs 1,000 crore and investible funds worth Rs
know.
Potential bidders have 15 days to respond to the initial bids
The RP plans to shortlist them in another 15 days.
