Jet creditors to recover only $300-$400 mn in liquidation scenario: Report

Creditors of India’s bankrupt Jet Airways are likely to recover less than 10% of the carrier’s total outstanding dues in a liquidation scenario if no suitor succeeds in buying the airline, two sources told Reuters.

The airline’s financial and operational creditors, who are owed nearly 300 billion Indian rupees ($4.20 billion) are likely to recover only $300-$400 million from the sale of Jet’s assets, the sources, who have direct knowledge of the matter, said.

“The expected recovery on owned planes and real estate is $300-400 million after repaying debt tied specifically to those assets,” said one of the sources.