MUMBAI: Jet Airways founder Naresh Goyal has decided not to bid for acquiring a stake in the cash-strapped airline, sources said Tuesday.
The full-service carrier, which is currently operating less than 10 aircraft, is awaiting fresh fund infusion under a debt resolution plan.
Airline sources said Goyal, who had stepped down as chairman of the carrier last month, has withdrawn the bid for the airline.
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On April 12, sources said that Goyal had also put in a bid for the carrier.
SBI Capital Markets has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of the domestic lenders to the debt-ridden private carrier.
Last month, Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt.