Jet Airways likely to cancel all flights temporarily

Apr 16 2019 02:40 PM
Jet Airways likely to cancel all flights temporarily

Mumbai: The cash-strapped Jet Airways is likely to cancel all flights temporarily The carrier, which has more than Rs 8,000 crore debt, is currently operating less than 10 aircraft.

According to the report, Jet airline is awaiting fresh fund infusion under a debt resolution plan. SBI Capital Markets has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of the domestic lenders to the debt-ridden private carrier.

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Jet Airways founder Naresh Goyal, who along with his wife Anita Goyal, had stepped down from the airline last month, is staying away from bidding for acquiring stake in the airline.

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Meanwhile, Sunil Mehta Punjab National Bank (PNB) Managing Director and CEO told news Agency ANI that the lenders are committed to Jet Airways revival plan. He said, “SBI, SBI caps have started working on the plan. Revival plan has not been finalised yet, discussion is still on.”



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