British entrepreneur advised to formally engage with SBI Caps: Jet Airways

Jason Unsworth

Jet Airways has advised British entrepreneur Jason Unsworth, who had sent an unsolicited offer for the airline, to formally engage with SBI Caps Ltd, which is running the bidding process, according to a filing.

The full service carrier temporarily suspended operations on April 17 as it ran out of cash after lenders decided against extending any emergency funds.

Jet Airways had received an unsolicited e-mail communication from the British entrepreneur, it said in a filing to the BSE.

"... the sender has been advised to formally engage with SBI Caps Limited, who are leading the bidding process under resolution plan initiated by consortium of domestic lenders led by State Bank of India," it noted.

The filing came in response to a clarification sought from the airline on reports that the British entrepreneur has offered to take control of Jet Airways.

Jason Unsworth said he has contacted SBI on Wednesday.

"I can confirm @jetairways have given me two further contacts at @TheOfficialSBI to get in touch with regarding @atmosphereairuk's bid to take a controlling share of the airline," he said in a series of tweets.

Unsworth is the founder and CEO of Atmosphere Intercontinental Airlines, which would establish a new premium airline group in four different countries, according to his Twitter profile.

"Just had a meeting with an Indian #Entrepreneur investors will put up 1,500 crore/$215.702 Million USD for @atmosphereairuk @jetairways bid... with more interested parties still to meet with and take calls from over the coming 2 weeks...," he said in another tweet.

Separately, the airline informed the National Stock Exchange (NSE) on Wednesday that its website was under "heavy maintenance" due to which certain details were not accessible and that necessary changes have been done.

Under Sebi norms, a listed entity is required to maintain a functional website containing the information as prescribed.

On Tuesday, the NSE sought clarification from the airline about certain information being not available on its website.

"Since the company has temporary suspended its operation due to which the website of the company was under heavy maintenance to carry out changes related to operation of the company.

"Due to said maintenance activity other section was not accessible for some time. The company has carried out necessary changes on website and details can be accessed on the website," the airline said in a communication to the exchange on Wednesday.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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