Mumbai: A day after publicly announcing his interest in the grounded Jet Airways, mining baron Anil Agarwal on Monday said he was no longer interested in pursuing the same.
On Sunday, Mr Agarwal’s investment company, Volcan Investment, had submitted an expression of interest in buying Jet Airways.
But on Monday, in a statement, Mr Agarwal said, “the EoI for Jet Airways by Volcan was exploratory in nature. On further evaluation and considering other priorities, we intend to not pursue this further.”
It had submitted an EoI for Jet as it wanted to understand the business scenario for the company and the industry, the statement added.
The move leaves just two unnamed financial investors in the fray for the limited assets of the airline which stopped flying mid-April and is currently facing insolvency proceedings.
In an interaction with ET, Agarwal said that while he has stepped back, he wants to encourage other airlines and investors to come forward to bid for Jet. He said his initial interest was driven a lot by his fondness for the airline.
“Jet Airways was the pioneer to open skies in India after Air India, created a world-class airline with the finest team and connected numerous global and domestic destinations. India is among the largest and fastest-growing aviation markets in the world,” he said.
