Announcement came just days after rival IndiGo pulled out of the race to acquire Air India's operation

Jet Airways on Tuesday became the latest major Indian airline to rule out a bid for debt-laden national carrier Air India in a new blow to the government's privatisation plans. Contingent liabilities would remain with Air India and Air India Express. On the basis of our review and after considering terms of the offer in the information memorandum, the company has decided not to participate in the Air India privatisation process, Jet Airways’ deputy chief executive, Amit Agarwal said in a statement emailed to AFP. However, considering the terms of offer in the information memorandum and based on our review, we are not participating in the process,” Jet Airways Deputy CEO & CFO Amit Agarwal told PTI in an e-mailed statement. In March this year, the central government had made announcement to sell 76 percent stake in Air India, as per the preliminary information memorandum that was released on strategic disinvestment of the national carrier. On April 5, IndiGo President and Whole Time Director Aditya Ghosh said that from day one, the airline has expressed its interest primarily in the acquisition of Air India’s international operations and Air India Express.
Jet Airways withdraws from the race to acquire debt-ridden state-owned Air India.