Exclusive: Jet Airways' lenders to initiate bankruptcy proceedings
Updated : June 17, 2019 05:50 PM IST
Jet Airways’ lenders, led by the State Bank of India (SBI), have decided to initiate bankruptcy proceedings against the cash-strapped airline.
The lenders rejected concessions sought by Etihad Airways on pricing and open offer as they were found to be non-compliant with Sebi norms.
The SBI-led consortium is expected to file insolvency proceedings against the airline later this week.