Jet Airways seeks ₹400 crore in emergency funding to stave off shutdown

Mumbai/New Delhi: Jet Airways (India) Ltd teetered on the brink of collapse as lenders to the cash-strapped airline, once the country’s largest outside government control, weighed interim funding to keep at least some of its planes operational.

A section of the Jet Airways management was in favour of a temporary shutdown until emergency funds are made available, two people aware of the development said, requesting anonymity.

A meeting between the airline’s management and lenders went on till late Tuesday evening but the impasse continued.