You are here: Home » Companies » News
Jet lenders fail to rope in foreign investors; govt works to save airline
icon-arrow-left
BSNL employees' union to stage a three-day rally starting April 5
Business Standard

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.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

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

RECOMMENDED FOR YOU

.