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Lenders to invite bids for stake sale in crisis-hit Jet Airways on Saturday

No consensus among banks on Rs 1,500 cr emergency funding, to release only Rs 150cr

Topics
Naresh Goyal  |  Etihad Airways  |  Jet Airways

Aneesh Phadnis & Arindam Majumder  |  Mumbai/New Delhi 



Jet Airways

The resolution plan for Jet Airways, which is operating with about a fifth of its original fleet, has run into further trouble. Even as there’s no sign of any investor so far, the lenders have decided to ask for expressions of interest (EoIs) for a stake sale on April 6. They have set April 9 as the deadline for receiving EoIs, giving investors three days to respond. To prevent Jet from being grounded, lenders’ consortium led by State Bank of India will release Rs 150 crore as emergency fund to the airline, which has a debt of more than Rs 8,500 crore besides unpaid dues to lessors and employees.

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First Published: Fri, April 05 2019. 02:19 IST

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