Lenders file for Jet Airways’ bankruptcy; hearing from Wednesday
The consortium of 26 bankers led by State Bank Tuesday took the grounded Jet AirwaysNSE -23.95 % to the National Company Law Tribunal to recover their dues of over Rs 8,500 crore. The tribunal will hear the matter Wednesday.
Jet Airways, started over 25 years ago by airline- ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on April 17 after it ran out of cash and the unpaid lessors took away most of its 100-odd operational airplanes.
The lenders have been trying to sell the airline as a going concern since the past five months, but failed due to many a reason.
