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Jet Airways looking to rework contracts with vendors to cut costs, says report

Jet Airways looking to rework contracts with vendors to cut costs, says report

Jet Airways looking to rework contracts with vendors to cut costs, says report
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By CNBC-TV18 Jan 8, 2019 8:30:21 AM IST (Published)

Cash-strapped Jet Airways is looking to renegotiate contracts with its vendors as its lenders seek a revival plan by the end of the month, Bloomberg reported citing unidentified people with knowledge of the discussions.

Cash-strapped Jet Airways is looking to renegotiate contracts with its vendors as its lenders seek a revival plan by the end of the month, Bloomberg reported citing unidentified people with knowledge of the discussions.

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The airline, according to the report, is in talks to delay or reduce payments to vendors including aircraft lessors and those that providing engineering, spare parts, credit card and airport services.
As per the report, the airline's lenders said the short-term loan which is required to keep Jet afloat will be based on the plan proposed by the carrier and Etihad Airways.
State Bank of India is keeping another round of meetings with the airline management and vendors on Tuesday to find a consensus, the report said.
 
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