Jet Airways management proposes to halt all operations: ET Now

FILE Picture: Jet Airways aircrafts are observed 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 financial debt-laden airline at its board assembly, ET Now mentioned on Tuesday quoting resources.

Former Chairman Naresh Goyal has withdrawn from producing a bid for a stake in the enterprise, the tv set channel mentioned.

Jet Airways shares ended up getting down as a large amount as 18.53 p.c, their worst session because August 2015.

On Monday, the airline in a letter to its personnel noted it prepared to lengthen its suspension of around the world flights ideal up till Thursday as it skilled not attained any interim funding from collectors.

Jet has been grounding planes in latest months as lessors go to de-sign-up and just consider again once more their plane, even as the company’s collectors sought expressions of fascination in the provider from opportunity traders.

Regional media have mentioned that as several as six events have submitted expressions of fascination, yet it is even so significantly from obvious if an satisfactory bid will materialize.

Jet Airways did not immediately answer to a Reuters question for for remark.

Reporting by Chandini Monnappa in Bengaluru Maximizing by Rashmi Aich

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