NEW DELHI: The government is keen to explore all options for floundering Jet AirwaysNSE -4.14 % before initiating insolvency proceedings under the insolvency and bankruptcy code (IBC).
The government has also indicated to the banks that it favours Indian player holding a majority stake in the troubled airline.
A senior government official confirmed the development but said that banks themselves are not inclined to go to bankruptcy court as it may considerably lower the valuations, forcing them to take a bigger haircut.
