Crisis continued to deepen at cash-starved Jet AirwaysNSE -26.67 % Tuesday as the airline flew just five planes and the management made desperate attempts to garner emergency funds worth Rs 400 crore to stay afloat even as the lenders remained undecided on extending the lifeline.
While the meeting of the ailing airline’s board in Mumbai that went on for over three hours remained inconclusive, officials at the lenders and the government maintained that efforts are on to revive the carrier. However, the carrier’s pilots union NAG Tuesday threatened to seek resolution under insolvency law as salaries dues remained unpaid.
