Jet Airways lenders refuse more funding as airline risks shutdown

Mumbai: Lenders to Jet Airways (India) Ltd have refused funding to the cash-strapped carrier, according to people familiar with the situation, forcing the nation’s oldest surviving private airline to consider a temporary shutdown.

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.