With no lifeline, Jet Airways stares at shutdown

The two submitted separate offers last week with financial bids due to be submitted by the end of the month. The discomfort of banks may be stemming from the reluctance of the two Jet shareholders to bring money on the table despite the airline being on the brink of collapse. At Monday’s meeting with Jet, lenders suggested that the Rs 1,500 crore being demanded by the current management may not be able sustain the carrier for long and Goyal and Etihad may need to chip in as well, a senior banker told TOI. Necessary support to facilitate the process is being extended by the banks in the consortium. Cooperation by and support from all the other stakeholders will be the key to the success of the process,” the statement said.

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