Hope floats: Jet Airways lenders may have agreed to convert Rs 4,000 cr debt

Lenders to financially struggling Jet Airways are understood to
have agreed to convert Rs 4,000 crore — nearly half of the
airline’s gross debt of Rs 8,411 crore (as on September 30 2018)
— to equity at Rs 1,sources close to the development told FE. The
lenders will get equity equivalent to this swap in Jet. It is also
understood that there will be fresh infusion of capital of about Rs
650 crore
Source: FS – Aviation
Hope floats: Jet Airways lenders may have agreed to convert Rs 4,000 cr debt



Leave a Reply