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MUMBAI, Aug. 3 (Reuters) – Indian airline Jet Airways has extended the deadline for initial bids from the bankrupt airline, starting on August 3, a company statement said on Saturday.
Jet, which was once one of the largest airlines in the country, was forced to stop all its flights in April after running out of money and failing to secure funds, crippled by increasing losses while he was trying to compete with cheap competitors.
The deadline for the submission of tenders has been extended at the request of certain candidates, he added.
Jet Airways and its lenders are looking for new investors since its planes were grounded and their staff was not paid.
On July 19, the airline's lenders agreed to provide interim financing to cover legal and other costs, as bankruptcy reviewers sought out a buyer. (Report by Nupur Anand edited by David Holmes)
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