Jet Airways management proposes to halt all operations: ET Now

FILE Photograph: Jet Airways aircrafts are noticed parked at the Indira Gandhi Intercontinental Airport in New Delhi, India, April 13, 2019. REUTERS/Anushree Fadnavis

(Reuters) – The management of India’s Jet Airways has proposed to suspend all functions of the personal debt-laden airline at its board assembly, ET Now famous on Tuesday quoting assets.

Earlier Chairman Naresh Goyal has withdrawn from creating a bid for a stake in the company, the tv channel famous.

Jet Airways shares experienced been down as a great deal as 18.fifty 3 p.c, their worst session considering that August 2015.

On Monday, the airline in a letter to its workforce claimed it prepared to extend its suspension of all over the world flights until eventually lastly Thursday as it experienced not received any interim funding from financial loan firms.

Jet has been grounding planes in recent months as lessors change to de-signal up and purchase once again their plane, even as the company’s financial loan firms sought expressions of curiosity in the provider from most likely purchasers.

Space media have famous that as a great deal of as six functions have submitted expressions of curiosity, even however it is continue on to significantly from obvious if an satisfactory bid will materialize.

Jet Airways did not straight absent reply to a Reuters ask for for remark.

Reporting by Chandini Monnappa in Bengaluru Modifying by Rashmi Aich

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