Jet Airways recently said it defaulted on a debt payment to a consortium of banks led by State Bank of India.
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Shares of cash-strapped Jet Airways fell as much as 4.3 percent in early trade after a media report suggested that revenue from ticket sales could be used to securitise outstanding debt.
The stock plunged as much as 4.3 percent on the BSE, quoting at Rs 236.20.
Lenders are unlikely to accept Jet Airways' proposal as the money made will be insufficient to cover payments, sources told The Economic Times.
The airline recently said it defaulted on a debt payment to a consortium of banks led by State Bank of India.
At 10:15 hours Jet Airways was quoting at Rs 238.10 on the BSE, down 3.54 percent.First Published on Jan 4, 2019 10:32 am
