Synergy Aerospace has reportedly signed a Non-Disclosure Agreement (NDA) with the resolution professionals managing the insolvency process of Jet Airways (9W, Mumbai Int'l), making it the only standing prospective bidder, the Hindu Business Line has reported.

The South American holding is also the first party that was granted full access to Jet Airways' data room. As the last remaining bidder, it has been given time to examine the documents before submitting a binding bid.

Synergy, which controls a 51.5% stake in Avianca Holdings through its subsidiary BRW Aviation LLC, is reportedly seeking a 49% stake in Jet Airways. The holding also expects a significant haircut of 60-70% of the Indian airline's debt, which in total stands at around INR305.6 billion rupees (USD4.2 billion) in registered claims.

Earlier, Live Mint reported that the resolution professionals decided to disqualify Russian fund Treasury RA Creator, which was the only other remaining party interested in acquiring Jet Airways. According to unnamed sources, the Russian fund did not provide enough information about itself and did not pay the mandatory fee for access to the data room.