Jet may seek debt recast if it fails to get equity infusion and sell assets

The airline will also have to undergo a forensic audit for any debt recast to be cleared. Since February 12, virtually all loan recast has come to a halt

Jet Airways, which has an annual interest outgo of Rs 9 billion, will have to go for a debt recast with its lenders if it does not get equity infusion in the near future and fails to sell assets. The company had a consolidated debt of Rs 84 billion at the end of March 2018 and has Rs 20 billion of debt repayment scheduled by March next year, say analysts. 

“The banks are worried that if the Tatas delay their decision, then Jet will have to do a fire sale of its assets or seek a debt recast,” said a