Jet Airways management proposes to halt all operations: Report
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.
The management of India`s Jet Airways has proposed to suspend all operations of the debt-laden airline at its board meeting, ET Now reported on Tuesday quoting sources. Former Chairman Naresh Goyal has withdrawn from making a bid for a stake in the company, the television channel reported. Jet Airways shares were down as much as 18.53 percent, their worst session since August 2015. On Monday, the airline 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 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.
Watch this Zee Business Video
Local media have reported that as many as six parties have submitted expressions of interest, though it is still far from clear if an acceptable bid will materialize.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.