Dubai – Mubasher: Etihad Airways has reportedly appointed the US-based turnaround manager Alvarez & Marsal to initiate due diligence on Jet Airways Ltd.
The Emirati carrier is considering bailing out the troubled Indian company, according to Reuters.
“Executives from Alvarez & Marsal are camped in Jet Airways’ offices in Mumbai and are taking stock of the airline’s operations and looking into its financial health and records,” the international news agency reported, citing an informed source as saying.
Both Etihad and Alvarez & Marsal declined to comment on the matter.
Earlier in January, Etihad Airways announced that it has doubled its stake in Jet Airways to 49%.
