Jet Lenders "Reasonably Hopeful" Of Successful Bids For Grounded Airline | Read

PUBLISHED ON: April 18, 2019 | Duration: 6 min, 12 sec

  
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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 sector airline - took the decision to stop flying on Wednesday evening after the lenders 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.
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