BREAKING NEWS

BREAKING NEWS

Exclusive: Etihad hires turnaround expert Alvarez & Marsal as it weighs Jet Airways bailout

Exclusive: Etihad hires turnaround expert Alvarez & Marsal as it weighs Jet Airways bailout
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Vasily Fedosenko(Reuters)
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By Aditi Shah and Stanley Carvalho

NEW DELHI/ABU DHABI (Reuters) - Etihad Airways has appointed turnaround specialist Alvarez & Marsal to conduct due diligence on Jet Airways Ltd as it weighs bailing out the cash-strapped Indian carrier, three sources familiar with the matter told Reuters.

Executives from Alvarez & Marsal are camped in Jet Airways' offices in Mumbai and are taking stock of the airline's operations and looking into its financial health and records, one of the sources said.

An Etihad spokeswoman declined to comment. Alvarez & Marsal and Jet Airways did not immediately respond to an email seeking comment.

(Reporting by Aditi Shah in New Delhi and Stanley Carvalho in Abu Dhabi; Editing by Martin Howell)

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