Good outcome from creditors-company negotiations better than insolvency, says govt official on Jet Airways
Updated : March 25, 2019 01:16 PM IST
"I think creditors and the debtor are in discussion. That is the best process," Corporate Affairs Secretary Injeti Srinivas said.
He was responding to a query on whether Jet Airways is a fit case to be referred under the Insolvency and Bankruptcy Code (IBC).
The cash-strapped airline, which has been operating for over 25 years, is looking to restructure its debt, estimated to be more than Rs 8,000 crore, as well as raise fresh funds.