Jet Airways’ creditors and its new owners are deadlocked over a resolution plan to lift the Indian airline out of bankruptcy, putting its future in limbo, four sources said.
Creditors may approach India’s aviation ministry to seek approval to liquidate Jet’s assets if there is no resolution on Tuesday in a critical court hearing, a senior banker said.
“There are concerns the resolution plan may fall apart so we are looking to see if we can at least get something out of this deal via the liquidation route,” the banker, who has direct knowledge of the matter, told Reuters on Monday.
