April 17, 2019 / 12:23 PM / 2 months ago

Jet Airways to temporarily suspend ops after banks reject funding request -sources

MUMBAI, April 17 (Reuters) - Embattled carrier Jet Airways Ltd is set to temporarily halt operations on Wednesday after its banks rejected the debt-laden carrier’s request for emergency funding, three sources familiar with the matter said on Wednesday.

The airline, saddled with roughly $1.2 billion of bank debt, has been teetering for weeks after failing to receive a stop-gap loan of about $217 million from its lenders, as part of a rescue deal agreed in late March.

Jet and its lead lender State Bank of India (SBI) did not immediately respond to requests for comment.

Reporting by Tanvi Mehta and Aditi Shah Editing by Euan Rocha

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below