Jet Airways lenders look to leverage airlines 16 planes, other assets

As state-run Air India eyes Jet Airways’ routes and aircraft, lenders are looking for ways to make the best use of 16 planes of the ailing airline as well. The lenders are also in discussion for protecting valuable assets of the company including airport slots, PTI reported sources as saying.

With the airline announcing the suspension of its operations on a temporary basis amid heavy cash crunch, the lenders are now waiting for the bidding process for stake sales. “The domestic lenders, led by SBI, are looking at options to raise funds from available assets of the carrier,” PTI said.

Aviation firms in India have started to pick up from where Jet Airways left with Air India seeking approval from lenders to fly five grounded Boeing 777 planes which belong to Jet Airways. Read More

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