Jet Airways likely to get funding amid reports of temporary shutdown
Funding for debt-laden Jet Airways is likely to come through, said a government official on Tuesday amid reports that the airline is likely to shut down temporarily.
Jet lenders, led by State Bank of India (SBI), met financial services secretary Rajeev Kumar as the airline’s share price fell by as much as 19%, Live Mint website reported.
Business channel CNBC TV18, citing unnamed sources, said Jet’s CEO has been authorised by directors at a board meeting to engage with its lenders one last time, and halt operations late Tuesday, if no funds arrive.
