Lenders to India's Jet Airways Ltd said on Thursday they are 'reasonab...
FILE PHOTO: Jet Airways aircrafts are seen parked at the Indira Gandhi International Airport in New Delhi, India, April 13, 2019. REUTERS/Anushree Fadnavis/File Photo
Jet Airways, once India’s largest private airline, on Wednesday evening halted all flight operations indefinitely after lenders led by State Bank of India declined to extend more funds to keep it going. At its peak, Jet operated over 120 planes and well over 600 daily flights. The airline, which has roughly 16,000 employees, has in recent weeks been forced to cancel hundreds of flights and to halt all flights out of India as funds dried up.
“Lenders are reasonably hopeful that the bid process is likely to be successful in determining fair value of the enterprise in a transparent manner.”
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