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Home business Jet Airways receives EoIs from Anil Agarwal’s family trust, a Russian firm and Panama-based fund Avantulo Group

Jet Airways receives EoIs from Anil Agarwal’s family trust, a Russian firm and Panama-based fund Avantulo Group

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Lenders to grounded Jet Airways (India) Ltd have received expressions of interest (EoIs) from Anil Agarwal’s family trust, a Russian firm and Panama-based fund Avantulo Group, two people aware of the development said on the condition of anonymity. The identity of the Russian firm couldn’t be ascertained.

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“Volcan Investment, an investment company for Anil Agarwal, in an exploratory move, has sought an EoI for Jet Airways, to understand the business scenario for the company and the industry," the company said in a statement.

The bankrupt airline has received expressions of interest (EoIs)from three interested parties—two financial investors and a global company.


“Jet’s only value at this point remains its slots at key airports like New Delhi and Mumbai, stake in its frequent flyer programme and a few old wide-bodies that it owns, though most of these planes are technically owned by the banks," said an executive of a rival domestic airline, who didn’t want to be named. Jet Airways, which was until a few months ago India’s second-largest airline, operated about 106 departure and arrival slots each daily at Mumbai. It operated about 79 departure and arrival slots each daily in New Delhi.


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