Synergy Aerospace has reportedly asked the Resolution Professionals managing the bankruptcy of Jet Airways (JAI, Mumbai International) for an extension of the deadline for a final bid by 1.5 months to the end of November, The Financial Express has reported.

The current deadline for final bids from prospective investors expires on October 14. Synergy Aerospace, an investment vehicle for German Efromovich, is the only remaining bidder.

The Press Trust of India reported last week that the Resolution Professional Ashish Chhauchharia told the National Company Law Tribunal (NCLT) that Synergy Aerospace was still conducting due diligence and would likely need more time. He added that an extension of the deadline was likely.

The Resolution Professional should, however, present the final plan for the future of Jet Airways to the NCLT by October 28, 2019. It will not be possible without a final decision by Synergy Aerospace.

Synergy Aerospace has separately been negotiating with the government regarding the foreign direct investment cap. While the Indian government would want to limit the South American holding's stake to 49%, Synergy is eyeing majority control of Jet Airways.