The mail ask SBI Caps for information on the bidding process and Jet Airways' assets and valuation, its debt level, a break-up of its expenses and the amount of equity that will come in if the employees bring in $700 million
Offering to 'step in' when needed in the Jet Airways bidding process, a group of airline's employees in their mail to SBI Caps said they are in talks with investors to raise $700 million that will be used to revive the cash-strapped airline.
The employees had earlier this month met officials of SBI Caps, to present their proposal.
SBI Caps is at present in talks with unsolicited bidders of Jet Airways to bring in equity. Earlier, Etihad Airways was the only shortlisted bidder to put in a proposal. But the Abu Dhabi-based airline wants to retain only a minority stake in the airline.
In their mail to SBI Cap, the employees have asked for information to help them in the fundraising process. They have sought details of Jet Airways' assets and valuation, its debt level, a break-up of its expenses and the amount of equity that will come in if the employees bring in $700 million.
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