Jet Airways fate hangs in balance over funding delays, depleting sales

Goyal writes to staff seeking more time to finalise resolution plan, says still in talks with lenders and Etihad; sources say he's looking for a new investor to keep company afloat

Jet Airways' fate hangs in balance with fast depleting sales and non-committal stance by Etihad Airways  on fresh infusion of funds.

On Monday, the airline's founder chairman Naresh Goyal wrote to staff seeking more time to finalise a resolution plan given its complexities. Goyal's email said he is still in talks with lenders and Etihad, but aviation sources indicated that he is looking for a new investor to keep the company afloat.

On Tuesday morning, civil aviation minister Suresh Prabhu directed the department secretary to hold an emergency meeting on grounding of Jet's flights and asked for a status report. 

The delay in