‘Jet Airways resolution plan totters due to disagreement with creditors’

MUMBAI: Creditors of Jet Airways and the company’s new owners are deadlocked over a resolution plan to pull the airline out of bankruptcy, putting the carrier’s future in limbo, according to sources.

Creditors may approach aviation ministry to seek approval to liquidate Jet’s assets if a resolution does not emerge during a critical court hearing on Tuesday, said a senior banker.

“There have been too many delays … there are concerns the resolution plan may fall apart so we are looking to see if we can at least get something out of this deal via the liquidation route,” the banker, who has direct knowledge of the matter, said.