Etihad Airways skips Jet Airways bidding

PUNIT PARANJPE / AFP

Bidding on India's grounded carrier closed on Saturday evening, after a one-week extension.

Etihad Airways has passed on the opportunity to increase its stake in India's Jet Airways.

The UAE's national carrier owns a 24 per cent stake in the insolvent airline.

"The process is being managed by the resolution professional. We have no comment at this time," read a statement from Etihad.

Administrators say they received three expressions of interest - two from financial institutions and one from an international aviation player.

The bids will be evaluated and administrators will provide a list of eligible applicants by Tuesday.

More from Business

Coming Up on Dubai Eye

  • Off Script with Chris, Robbie & Sonal

    5:00pm - 7:00pm

    The UAE’s alternative take on news, entertainment and sport. Join Chris, Robbie and Sonal as they cut through the clutter to bring you the news, entertainment and sport stories that actually matter.

  • Extra Time

    7:00pm - 8:00pm

    Chris & Robbie bring you the latest from the sporting world plus interviews with upcoming and legendary sporting stars.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.