Jet Airways' Committee of Creditors has agreed to extend to December 16, 2019, the deadline for Synergy Aerospace to bid for the bankrupt carrier, the Business Standard has reported.
The South American holding is the only interested investor but has repeatedly asked for more time to formalise its bid.
According to earlier reports, Synergy is still seeking clarity regarding the current status of most valuable slots at London Heathrow, Mumbai International, and Delhi International previously held by Jet Airways. The holding is reportedly also still on the lookout for an Indian partner as it would be limited by law to a minority shareholding in Jet Airways.
Under Indian law, resolution professionals have 180 days to find a solution for an insolvent company before it is completely wound down. Jet Airways commenced its insolvency proceedings in early June. However, the initial 180-day period can be extended by the court by another 90 days if there is credible evidence that a resolution can be reached with an interested investor.
The National Company Law Tribunal (NCLT) has reportedly requested a meeting with Synergy by December 3, independent of ongoing negotiations with creditors.
