Naveen Jindal, the promoter of Jindal Steel and Power Ltd., has shown interest in venturing into airlines through the insolvent Go First.
The promoter has submitted an expression of interest in buying the airline, according to two people familiar with the matter.
This is an opportunistic play from the company, as it is looking for potential business in the aviation sector, the first of the two people quoted above told BQ Prime on the condition of anonymity.
It has also been revealed that since Jindal Steel does not know about the functioning of Go First, due diligence will be done. After that, if it is found to be financially feasible, there might be a bid in about 612 months.
As it happens, Go First lenders may need to open the door t…
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