FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo
MUMBAI (Reuters) – Jet Airways creditors said on Monday they plan to begin insolvency proceedings against the Indian airline in a last-ditch bid to find a buyer for the carrier or its remaining assets and recover some of what they are owed.
Once Indias biggest private carrier, Jet Airways stopped flying in April after running out of cash, leaving thousands without jobs and pushing up air fares across the country.
Lenders have decided to seek resolution under IBC since only a conditional bid was received, they said in a statement, referring to Indias Insolvency an…
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