NEW DELHI: The US Exim Bank has recalled all loans extended to Jet AirwaysNSE -26.67 % for buying Boeing aircraft and is likely to take the possession of these aircraft, thus, taking away all the long-haul Boeing 777 aircraft that the airline owns.
Sources said that the amount of loan is about Rs 2,000 crore and the Bank is soon going to initiate the process of possessing the aircraft.
“The bank can take all 10 Boeing 777 aircraft that the airline owns and that would mean that the airline would not have aircraft left to operate,” said an airline executive, who did not want to be identified.
