Jet Airways stares at shutdown, board meets today as lenders refuse funds

Lenders fail to infuse emergency fund after a crucial meeting on Monday

India’s first private airline Jet Airways is headed towards a total grounding and a decision could be taken as early as Tuesday after a meeting of its board of directors. Left with no cash, a seven-plane fleet and fuel to run operations only till Tuesday afternoon, the end is imminent, said sources close to the development. “Jet cannot be saved now. It’s on the ground,” another source in the know said. 

This follows Monday’s no-consensus emergency meeting of the lenders’ consortium, led by State Bank of India, to decide on infusion of Rs 1,000 crore immediately. Soon after, the suspension