E-Paper
Jet Airways defaults on loan repayments to banks
The full service carrier has been grappling with financial woes for quite some time now and has been making delayed salary payments to staff.
Updated on: Jan 2, 2019, 11:19:55 IST
Share via
Copy link
Crisis-hit Jet Airways Wednesday said it has defaulted on loan repayments to banks, according to a filing.
The full service carrier has been grappling with financial woes for quite some time now and has been making delayed salary payments to staff.
“Payment of interest and principal installment due to the consortium of Indian Banks (led by State Bank of India) on December 31, 2018 has been delayed due to temporary cashflow mismatch,” the company said in a regulatory filing.
The company has engaged with them (banks) in relation to the same, Jet Airways added.
Shares of Jet Airways were trading lower by 2.01 per cent at 275.40 on the BSE in morning trade.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
