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Jet Airways lenders still undecided on funding

Jet Airways lenders still undecided on funding

Mumbai: Jet Airways' survival remained under serious threat after its lenders Monday deferred a much-anticipated decision to provide emergency funds to the carrier following a marathon meeting, even as its pilots' union appealed to the lenders and the prime minister to save the airline.

Jet Airways chief executive Vinay Dube in an internal communication has said the lenders could not decide on the emergency funding and that the board of the airline will meet Tuesday to take a call on the future.

"The current status of our engagement with the lenders and other related matters shall be placed before the board Tuesday morning, where the management will seek guidance from the board on the next steps forward. We will keep you updated on all critical developments," Dube said in a mail.

Jet Airways pilots' union, the National Aviators Guild had Sunday deferred a decision to strike from Monday saying that it wanted to give more time to the airline ahead of the lenders' meeting here.


Agencies

Agencies

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