Jet Airways lenders to seek 90-day extension for resolution process

The committee of creditors (CoC) of Jet Airways on Thursday decided to file for an extension of the airline’s corporate insolvency resolution process (CIRP), given that a plan to revive the company is still not on the table. None of the players in the fray, however, has backed out of the process completely. 

An extension of up to 90 days may be sought from the National Company Law Tribunal (NCLT), sources said. It was also discussed in the meeting that perhaps this was not the right time to go for liquidation of the company given weak sentiments prevailing in the economy