Jet Airways on Tuesday said it would not be participating in the Air India disinvestment process, becoming the second domestic airline after IndiGo to make such a decision in less than a week. The ambitious strategic stake sale of loss-making Air India as well as its two subsidiaries seem to be hitting air pockets with the two potential bidders deciding to keep away citing the contours of the process. Kicking off the disinvestment process, the government has came out with a detailed preliminary information memorandum, detailing plans to offload up to 76 per cent stake in Air India and transfer the management control to private players.