Jet Airways is likely to suspend its operations today as lenders have rejected its request for additional funds, according to a report of ET Now. ET Now, quoting its sources, claimed that the lenders have rejected its appeal for emergency funds worth Rs 400 crore to stay afloat. As per the report, Jet's last flight will take to the skies at 10.30 PM today.
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Watch Jet Airways to suspend operations from today amid lack of funds With HD Quality.
Jet Airways is likely to suspend its operations today as lenders have rejected its request for additional funds, according to a report of ET Now. ET Now, quoting its sources, claimed that the lenders have rejected its appeal for emergency funds worth Rs 400 crore to stay afloat. As per the report, Jet's last flight will take to the skies at 10.30 PM today.
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Watch Jet Airways to suspend operations from today amid lack of funds With HD Quality
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Jet Airways Sold For One Rupee | Indian Airline Jet Airways Sold 50 % Of It's Stake For One Rupee Top Telugu TV
Debt-ravaged Jet Airways India, the country's biggest so-called full-service airline, is selling a majority stake for 1 rupee - a little more than 1 US cent. It's part of a bailout plan by its state-owned lenders that will give the airline time to arrange fresh equity. The complicated arrangement is on track to be voted through on February 21, in what would represent the rescue of one of the country's most visible companies at a sensitive time, with India's general election just weeks away.
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Jet Airways pilots body, the National Aviator's Guild, Monday appealed the State Bank of India to release Rs 1,500 crore, which was proposed to be infused in the ailing carrier as part of a debt-restructuring plan last month. The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.
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Watch Jet Airways Pilots Seek PM Modi's intervention to save there jobs, Ask SBI for Funds With HD Quality
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Watch Jet Airways faces imminent shutdown without emergency funds from lenders With HD Quality
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Here are the top stocks that are likely to be in focus in today's trading.
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India's oldest private carrier suspended all operations temporarily on Wednesday, with no money to fly and banks refusing to lend any more. It has left more than 15,000 employees in the lurch. What will be the future of Jet Airways? Anirban Chowdhury has more.
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Watch The Jet saga: Possible outcomes | Jet Airways Crisis | Economic Times With HD Quality
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No last word from lenders on interim funding yet. But, we believe in Jet and will leave no stone unturned to resurrect Jet. We are in constant touch with lenders: Jet Airways CEO Vinay Dube
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Watch Jet Airways CEO Vinay Dube breaks his silence on Jet crisis With HD Quality
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