India's Jet Airways Finds Itself Out of Runway as Funds Dry Up

MUMBAI/NEW DELHI (Reuters) -  Embattled Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India’s largest private airline.

The carrier, saddled with roughly $1.2 billion of bank debt, has been teetering for weeks after failing to receive a stop-gap loan of about $217 million from its lenders, as part of a rescue deal agreed in late March.

Read more: https://www.reuters.com/article/us-jet-airways-debt-shutdown/jet-airways-to-temporarily-suspend-operations-after-banks-reject-funding-request-sources-idUSKCN1RT1FY