Jet Airways Awaiting ‘Emergency Liquidity Support’ From Lenders
Cash-strapped Jet Airways (India) Ltd. said it is awaiting "emergency liquidity support" from the State Bank of India-led consortium of lenders to arrest further deterioration in its services.
The airline, which is operating only five planes, said its operations have been severely impacted due to critical liquidity position. "The company's leadership, in consultation with its board of directors, is engaged with lenders in connection with the said emergency funding request,” it said in an exchange filing.
It also added that the company is in constant engagement with the Directorate General of Civil Aviation and Ministry of Civil Aviation for the same. The filing was made in response to a clarification sought by the exchange regarding reports that the airline was likely to temporarily shut down its operations.a)