Reasonably Hopeful On Jet Airways Bidding Process\, Say Lenders

Jet Lenders "Reasonably Hopeful" Of Successful Bids For Grounded Airline: 10 Points

The statement from the lenders' group came a day after the airline suspended all its flight operations indefinitely.

Market | | Updated: April 18, 2019 08:35 IST
Jet Lenders 'Reasonably Hopeful' Of Successful Bids For Grounded Airline: 10 Points

Jet is struggling to stay afloat as it owes vast sums to lessors, suppliers, pilots and oil suppliers

Jet Airways' group of lenders said on Thursday that they are -reasonably hopeful that the bid process is likely to be successful-. The statement from the lenders, led by State Bank of India (SBI), came a day after the airline suspended all its flight operations indefinitely. Jet Airways - once India's largest private airline - took the decision to stop flying on Wednesday evening after the SBI-led group declined to release emergency funds for the carrier. Saddled with a debt pile of more than Rs 8,000 crore, Jet Airways is struggling to stay afloat as it owes vast sums to lessors, suppliers, pilots and oil companies.