The final bidders will be eligible to analyse financial data and other crucial documents related to the bankrupt airline, following which they can come up with a resolution plan

Once India's biggest private carrier, Jet stopped flying in April after running out of cash, leaving thousands without jobs and pushing up airfares across the country

Three entities have expressed interest. That includes Russian Fund Treasury RA Partners, Panama-based investment firm Avantulo Group and South American conglomerate Synergy Group Corp

Jet Airways stock opened 4.91% lower at Rs 37.75 compared to the previous close of 39.70 on BSE. Jet Airways share price has been losing for the last two days and has fallen 9.58% during the period.

Jet Airways crisis: Synergy Group Corp which owns a majority stake in Colombian carrier Avianca Holdings, the second-largest airline in Latin America, operates several airlines in South America. Avianca Holdings also has a codeshare partnership with Air India.

Jet Airways crisis: This is the third time lenders extended the deadline after August 3 and 10. The third deadline for submission of Expression of Interest (EoI) ended on August 31.

On the Bombay Stock Exchange (BSE), Jet Airways' stock gained as much as 4.90 per cent to Rs 41.75 apiece from Wednesday's close level of Rs 39.80 in an otherwise weak market

German Efromovich, the South American conglomerate's founder, will visit India next month to discuss investment options with Jet Airways' lenders and domestic infrastructure companies

The airline's resolution professional Ashish Chhawchharia received an expression of interest from the overseas airline last week, well past the submission deadline of August 10

This comes after Eithad Airways, which owns 24 per cent stake in Jet, did not submit Expression of Interest (EOIs) for the stake sale in the bankrupt airline

The share of cash-strapped Jet Airways has hit 5 per cent lower circuit in intra-day trade on Tuesday after reports suggested that two potential investors, Volcan Investments and Eithad Airways, decided to back out.

In a statement on Monday, Anil Agarwal's Volcan Investments said that it took the decision to back away from Jet Airways based on its evaluations and other priorities

In a statement released on Monday, the investment company said that it took the decision to back away from Jet based on its evaluations and other priorities

Volcan and Vedanta Resources are the parent companies of Vedanta Limited

Jet Airways stake sale: Etihad Airways which owns 24 per cent stake in Jet has not submitted its bid on Saturday. It was the last day of the bidding process which was extended for a week on August 3.