Lenders to Jet Airways India Ltd. have refused to bail out the cash-strapped carrier, according to people familiar with the situation, forcing the nation’s oldest surviving private airline to temporarily ground its flights.
Bankers have confirmed that there’s no money coming in for now, the people said asking not to be identified as the matter is not public. Jet Airways executives, including operational heads, are meeting in Mumbai Tuesday to take a call on complete halt of operations, according to two persons in the know, even as the failing airline scrambles to get a new investor.
A spokesman for the airline declined to comment.
