Jet AirwaysNSE -1.64 % has a debt of nearly Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of next month.
In the three months ended December 2018, the airline reported its fourth consecutive quarterly net loss of Rs 732 crore.
Due to severe liquidity crunch it has defaulted on a payment of the principal and interest to the consortium of the domestic banks besides payments to lessors, and a section of employees, among others.
The lessors have forced it to ground at least six aircraft due to non-payment.
