NEW DELHI: Cash-strapped Jet Airlines on Monday announced that the part repayment of the External Commercial Borrowing (ECB) availed by the company has been delayed.“This is to inform you that the part repayment of the External Commercial Borrowing availed by the company, for working capital purposes, falling due on 11 March 2019, has been delayed owing to temporary liquidity constraints and the company has engaged with the lender in relation to the same,” the airline said.
Jet Airways, which has debts of over `8,000 crore, has large debt repayments due over December 2018 to March 2019 (`1,700 crore), FY2020 (`2,444.5 crore) and FY2021 (`2,167.9 crore). The airline had already defaulted on a debt payment to a consortium of banks led by SBI.
