MUMBAI: Jet AirwaysNSE -3.32 % won’t be able to operate beyond April if it doesn’t get the entire promised debt funding of Rs 1,500 crore from its lenders in a week, its top management has estimated internally, said a person aware of the development.
The airline’s management also met lenders seeking clarity on the future of a revival plan drawn up by the banks after the Supreme Court quashed the RBI circular on debt restructuring rules for companies that have defaulted on loans. No clarity or assurance has come from the lenders, the person said.
Separately, founder Naresh Goyal on Wednesday announced his formal exit from Jet, saying he had agreed to “sacrifice” his “every control and interest” in the airline.
