UAE-based Etihad Airways on Monday said that they will not express interest in bidding for the grounded Jet Airways due to unresolved issues concerning the airline's liabilities. Jet's partner had submitted expression of interest in May and had wanted additional loans to be given by the banks along with exemption from an open offer that may trigger when the Gulf major's stake goes above 24%.
Separately, in another blow to the debt-laden Jet Airways, billionaire Anil Agarwal clarified that his family trust, Volcan Investment, which had expressed interest for fresh investment will also pull out of the bidding process. The lenders had extended the last date of submission of expression of interest to 10th August to accommodate bids coming after the due date.