Creditors’ panel approves $10 mn interim fund for Jet Airways
MUMBAI: he Committee of Creditors (CoC) of Jet Airways (India) Ltd on Friday approved an interim funding of $10 million (about ₹69 crore) for the airline, which will be used for the corporate insolvency resolution process, two people with direct knowledge of the matter said, requesting anonymity.
During the past two days, the airline’s CoC, led by the State Bank of India (SBI), also voted on other resolutions, including calling for bids for bankrupt Jet Airways’ asset sale and admission of claims by creditors.
“The CoC has today voted in favour of a $10 million interim debt infusion by bankers, which will help start the insolvency resolution process,” said the first person.
