Amid acute financial crunch crippling its operations, Jet Airways management is awaiting clarity on receiving fresh funds after which a decision would be taken on continuing operations.
Jet Airways has a debt burden of more than Rs 8,000 crore.
SBI Capital Markets has the mandate for Jet Airways sale on behalf of the SBI-led consortium of the domestic lenders to the debt-ridden private carrier.
A senior government official said that funding for Jet Airways from lenders is likely to come through.
The board of the full service carrier, which is currently operating less than 10 aircraft, is meeting in Mumbai on Tuesday.
On Monday, lenders did not take a final decision on providing emergency funds to the cash-strapped carrier.
"Right now, the lenders are trying to resolve the issue by seeking bidders for investment. This is not the time for lenders to approach NCLT for resolution," the official said.
Creditors can take a defaulting company to the NCLT for seeking approval for resolution under the Insolvency and Bankruptcy Code (IBC).
Pursuant to a debt resolution plan approved by the airline's board last month, SBI Capital Markets, on April 8, invited Expression of Interest (EoI) from potential investors to buy out 75 per cent stake in the airline.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)