{"id":278799,"date":"2019-06-18T04:39:56","date_gmt":"2019-06-18T04:39:56","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=278799"},"modified":"2019-06-18T04:39:56","modified_gmt":"2019-06-18T04:39:56","slug":"over-and-out-for-jet-airways-as-lenders-start-bankruptcy-proceedings","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/over-and-out-for-jet-airways-as-lenders-start-bankruptcy-proceedings\/","title":{"rendered":"Over and out for Jet Airways as lenders start bankruptcy proceedings"},"content":{"rendered":"<p>A lenders\u2019 consortium, led by State Bank of India (SBI), has given up on its rescue effort after finding no buyer for Jet Airways following months of action-packed search. The consortium on Monday decided to take the Naresh Goyal-founded airline to the insolvency court.<\/p>\n<p>The one-time premier airline, started more than 25 years ago, was grounded on April 17. Although it was termed temporary grounding because of severe cash crunch, Jet, with a debt of more than Rs 8,000 crore, never flew again, leaving more than 15,000 employees stranded and jobless.<\/p>\n<p>The Jet lenders met for a crucial meeting Monday afternoon and decided to move the National Company Law Tribunal (NCLT) to seek a resolution under the Insolvency and Bankruptcy Code (IBC).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A lenders\u2019 consortium, led by State Bank of India (SBI), has given up on its rescue effort after finding no buyer for Jet Airways following months of action-packed search. The consortium on Monday decided to take the Naresh Goyal-founded airline to the insolvency court. The one-time premier airline, started more than 25 years ago, was grounded on April 17. Although it was termed temporary grounding because of severe cash crunch, Jet, with a debt of more than Rs 8,000 crore, never flew again, leaving more than 15,000 employees stranded and jobless. The Jet lenders met for a crucial meeting Monday [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-278799","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/278799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=278799"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/278799\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=278799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=278799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=278799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}