India's Jet Airways crisis deepens further on failure to get interim funding from lenders

Source: Xinhua| 2019-04-15 23:06:20|Editor: Mu Xuequan
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MUMBAI, April 15 (Xinhua) -- India's beleaguered airline -- Jet Airways continue to grope in dark as its lenders refused to infuse interim funds after a day-long meeting with the airline officials on Monday.

In a statement issued after the meeting, Jet Airways CEO, Vinay Dube said, "As you are aware, we have been working with the lenders to secure interim funding for our operations. The interim funding has not been forthcoming thus far, and as a result of this we have extended cancellation of international operations through Thursday, April 19."

The airline, as per its last announcement has a fleet of 14 aircraft left, but is only operating 7 of it, as its fuel supply arrangement is available only till Tuesday afternoon, an industry source said.

In absence of infusing fresh funds by the lenders who had earlier promised 216 million U.S. dollars but had only transferred 36 million dollars, the airline is finding it difficult to operate its flights.

The airline is laden with a debt of 1.15 billion U.S. dollars.