Jet pledges FDs worth Rs 1.5K crore to borrow cash from SBI

The airline decided to borrow against the FDs rather than redeem them because the deposits continue to earn a higher interest than what Jet has to pay to SBI, the Mint reported, a person to have said. Continue Reading

SBI mulls NCLT route to recover loans from ailing Jet Airways

To recover its loans from Jet Airways, state-run lender SBI is mulling moving National Company Law Tribunal as it feels the airline is running out of funds for operations, even as shareholders of the debt-laden carrier have approved a debt rejig plan, officials said. Continue Reading

Jet to raise Rs 4,000 cr if Etihad’s bid to increase stakes fails

Jet Airways promoter and founder Naresh Goyal, the airline’s lenders and Etihad will subscribe to the rights issue as part of the resolution plan, said reports. Etihad could look at subscribing either jointly or individually, they added. Continue Reading

Jet fails to pay December salary to ‘some’ employees

The Naresh Goyal-controlled Jet airline, which is part owned by Gulf carrier Etihad, has not been paying on time to about 15 per cent of its over 16,000 employees since August last year due to a liquidity crunch. Continue Reading