Do you seriously believe there is a business case to pump money into Jet Airways and relaunch it?
That is up to the bidders, not to sellers or government.
Let's say best bid needs 81% hair cut and rejecting all bids is 100% hair cut and any future statuary liabilities for the SBI gang(because they kicked out promoters), what would be rational to lose 100% and wait for future judgments??
That's bank debt. What about other creditors? All those vendors, who are apparently owed hundreds of millions?
They are in peculiar position -- if Jet fails, they get scraps. If it restarts, they have a legitimate claim to 100% of the debt. And some of them have leverage to make Jet pay no matter what.
And apparently, they have no influence on what outcome of Jet sale is, but they have to deal with the consequences.
How does it factor in a potential bidders' calculations?
Ok, assuming that with the exception of my posts, every other post on this thread is filled with facts and logic.
SBI is the cartel leader. The day it forced promoter and 24.9% owner Etihad, it owns the place. Sure anyone can sue Goyal and EY, but they didn't suspend the airline.
It is SBI led cartel's responsible to wind up the place and pay employees, lessors, vendors and everyone else.
SBI and the cartel can decide how big haircut they want to take out of 8,500 Crores. If ICICI has 500 Crores in the hole would it take 65 Crores or ZERO Crores?
With most planes repoed now the liability part of the plane is gone. Jet still owes pending rentals to lessors, say for 3-6 months.
If you read up thread, lessors were forced to pay vendors(separate debate) to de/re-register, so those dues also cleared up. The vendor is not going collect those from JetV2(if any).
For me, Jet's books started looking a lot better than the day it went down. All Jet's new owner need is to clear past lease payments to start international operations. They don't need to do that for just domestic operations, just need a new lessor.
Imagine a lessor filing a claim against JetV2 in Dutch, British or French court for the vendor bills they paid in India which they shouldn't have.