Anil Agarwal’s Volcan Expresses Interest In Buying Stake In Jet Airways
A Jet Airways flight seen grounded in Mumbai, Maharashtra. (Source: BloombergQuint)

Anil Agarwal’s Volcan Expresses Interest In Buying Stake In Jet Airways

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Mining baron Anil Agarwal’s investment company, Volcan Investment, on Sunday said that it has shown interest in acquiring a stake in defunct carrier Jet Airways (India) Ltd.

“Volcan Investment, investment company for Anil Agarwal, in an exploratory move, has sought an expression of interest for Jet Airways to understand the business scenario for the company and the industry,” the company said in a statement. “This EoI is in no way linked to Vedanta,” it added.

The last date for submission of EoI was Aug. 10.

Of the three entities that submitted EoIs, two are financial players and another is Panama-based fund Avantulo Group.

Etihad Airways, which holds 24 percent stake in Jet Airways, did not submit the bid.

Also read: IBC: Office Space Lessor Luckystar, Jet Airways Working On A Settlement

The three EoIs will be reviewed by the resolution professional Ashish Chhawchharia to ascertain their eligibility.

Late last month, the resolution professional had floated EoIs for selling stake in the airline that stopped flying mid-April.

Also read: Jet Airways Employees Seek Interim Financial Relief

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