NEW DELHI/MUMBAI: The crisis in Jet Airways deepened on Monday with Etihad Airways refusing to step into the shoes of the promoter of the troubled carrier.
In its meeting with lenders, the Gulf-based airline did not commit to hiking stake as it had several pre-conditions, outside the ambit of lenders, for taking the role of a promoter.
On Monday, Jet informed the stock exchanges that it will default on interest payments on its bonds, that are due on Wednesday, due to “temporary liquidity conditions”.
