Bengaluru: The management of Jet Airways (India) Ltd has proposed a temporary shutdown of the debt-laden airline at its board meeting, ET Now reported on Tuesday citing people aware of the matter. Former chairman Naresh Goyal has withdrawn from making a bid for a stake in the company, the Press Trust of India reported. Jet Airways shares were down as much as 18.53%, their worst session since August 2015.
CEO Vinay Dube said Jet Airways will halt operations by Tuesday evening if it doesn't get interim funding from lenders, led by State Bank of India, CN
Jet Airways CEO Says Co To Halt Ops By Evening If Co Gets:BRIEF-Jet Airways CEO Says Co To Halt Ops By Evening If Co Gets No Funds From Lenders - CNBC-TV18, Citing Sources
On Monday, Jet Airways in a letter to its employees said it planned to extend its suspension of international flights until Thursday as it had not received any interim funding from lenders.
Jet Airways has been grounding planes in recent weeks as lessors move to de-register and take back their aircraft, even as the company's lenders sought expressions of interest in the carrier from potential investors.
Mint reported Tuesday that as many as four parties have been shortlisted to pick up a stake in Jet Airways, though it is still far from clear if an acceptable bid will materialize.
Jet Airways did not immediately respond to a Reuters request for comment.
