Jet Airways says awaiting “emergency liquidity support” from lenders

NEW DELHI: Cash-strapped Jet Airways on Tuesday said it is awaiting “emergency liquidity support” from the State Bank of India (SBI)-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… The company is also in constant engagement with the Directorate General of Civil Aviation and Ministry of Civil Aviation in this regard,” it said in a filing to the BSE.

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.

Source: Press Trust of India

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