Some lenders to Jet AirwaysNSE -3.53 % have demanded more pledged shares of founder Naresh Goyal and planes owned by the airline as collateral for advancing further loans, even as the banks’ consortium remains sharply divided on additional debt assistance to Jet.
The latest condition was communicated to Jet’s management in a meeting on Monday evening. A meeting in the morning was inconclusive.
The delay in releasing funds has left the distressed airline perilously close to total stoppage of operations.
