A Delaware entity, Future Trend Capital, is understood to be backing the offer by Naresh Goyal’s Jetair to invest in Jet Airways, the distressed airline that is facing a severe cash crunch, employee anger over delayed salaries and grounded planes.
Jetair is the general sales agency (GSA) that birthed Jet Airways.
On Friday, the bid from the Future Trend-Jetair consortium came in at 6:08 pm, eight minutes after the deadline for submitting expressions of interest (EoIs). Jet’s lenders may weigh this factor, among others, while selecting investors for the airline that is desperately seeking fresh capital.
The Jetair spokesman had not responded till press time to ET’s emailed queries on Goyal’s connection with Future Trend and the delay in submitting the EoI.