FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo
DUBAI (Reuters) – Abu Dhabi’s Etihad Airways said on Monday it will not express interest in reinvesting in India’s bankrupt Jet Airways (JET.NS) because of unresolved issues concerning the Indian airline’s liabilities.
Jet has invited prospective bidders to express interest and last week extended the deadline to Aug. 10.
Etihad acquired a 24% stake in Jet in 2013, at a time when the Indian airline needed significant financial support, but since then the Abu Dhabi-based airline has been seeking “advanced solutions” to help resolve issues facing Jet, it said.
“Etihad remained engaged in the process, but despite the endeavors of everyone involved there remained very significant issues relating to Jet’s previous liabilities,” it said.
Reporting by Alexander Cornwell; Writing by Saeed Azhar; Editing by Susan Fenton