London-based Hinduja group pulled out of the race for Jet Airways (India) Ltd, leaving only two contenders—South America’s Synergy Group and New Delhi-based Prudent ARC Ltd—in the fray to acquire the airline that shut operations in April last year, said two people with direct knowledge of the matter.
Synergy submitted its expression of interest (EoI) on 6 January and Prudent, an asset restructuring company, submitted its initial bid on Wednesday, the final day of submitting bids, the people said. With only two parties left in the fray, the revival of what was once India’s largest private airline appears to be an uphill task.
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