Jet Airways’ lenders threaten insolvency over aircraft rental proceeds: Report

Airways jet lenders led by Indian Negara Bank can encourage airlines to liquidation if the bidders who win, the consortium of the road, do not agree in distributing the results of aircraft rentals among financing banks, the Economic Times has reported.

Rent a plane to Serbia Air, so far, produces around RS 108 Crore. The number is parked with SBI. The Bank -bank conveyed to the winner who won that they would submit a liquidation application if the lease was not distributed to the verified lender, the report said, quoting the source.

Moneycontrol cannot verify reports independently.

The consortium of the roads has been looking for time until next week for a decision. The resolution plan approved by the National Company Law Tribunal (NCLT) is silent about the distribution of rental rental, which leads to a dispute between the lenders to the depressed airline and the winning bidders.

Although NCLT approved the road-callrock plan in June 2021, the consortium has not paid the lender. Because the new owner of Jet Airways is trying to receive a regulation permit, the implementation of the plan is delayed, the report said.

Directorate of Civil Aviation Regulator General Civil Aviation (DGCA) returned Jet Air Operator Certificate in May 20222. Jet Airways was based on April 2019 because of its failure to pay fuel and rental rent.

We are in an advanced stage of discussion with Lessor and OEM (producers) for airplanes, and we will announce the choice of aircraft and our fleet plans when we make a decision, “said Jet Airways spokesman.

Kairi brown

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