With no buyers, Jet lenders to seek 90-day extension for resolution
The Committee of creditors (CoC) of Jet Airways want the deadline for the insolvency process to be extended by another 90 days. The decision was in-principle agreed upon at a meeting on Thursday. The 270-day deadline for the airline’s resolution ends on March 15.
Lenders have not received any concrete resolution plans so far, despite at least three parties having expressed interest. Besides the issue of Jet’s erstwhile slots, talks with potential buyers have “come to a standstill” due to the disruption caused by the coronavirus outbreak, sources said.
