Jet Airways management proposes to halt all operations: ET Now

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

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

Previous Chairman Naresh Goyal has withdrawn from earning a bid for a stake in the company, the tv channel claimed.

Jet Airways shares experienced been down as substantially as eighteen.53 p.c, their worst session due to the fact August 2015.

On Monday, the airline in a letter to its staff defined it geared up to lengthen its suspension of intercontinental flights till at some point Thursday as it knowledgeable not acquired any interim funding from financial loan corporations.

Jet has been grounding planes in the most current months as lessors change to de-signal up and get back again their airplane, even as the company’s financial loan corporations sought expressions of drive in the provider from probable traders.

Neighborhood media have claimed that as quite a few as six functions have submitted expressions of drive, nonetheless it is carry on to significantly from crystal crystal clear if an acceptable bid will materialize.

Jet Airways did not promptly reply to a Reuters request for for remark.

Reporting by Chandini Monnappa in Bengaluru Boosting by Rashmi Aich

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