Jet Airways lenders to push forward with rescue plan; no clarity on interim funding
Lenders to India’s Jet AirwaysNSE -0.94 % said on Thursday that they intend to push forward with their plan to rescue the troubled airline, but offered no clarity on interim funding, leaving the future of the carrier hanging in the balance.
Last month, Jet’s lenders, led by State Bank of India (SBI) , agreed to bailout the airline in a complex deal that involved the banks taking a majority stake, while seeking out an investor to help revive the company’s fortunes.
The rescue plan also included a $218 million interim loan to keep the airline afloat.
