Jet Airways to get Rs 1,500 crore ‘immediate support’

Jet Airways

Mumbai, March 25: Jet Airways on Monday said that it will receive an “immediate funding support” of up to Rs 1,500 crore by lenders for operational requirements.

The financially-struggling airline also announced the constitution of an Interim Management Committee “at the instructions of the lenders to manage and monitor the daily operations and cashflow of the company”.

“Immediate Funding support of up to Rs 1,500 crore by lenders by way of issue of appropriate debt instrument against security of its assets which will restore normalcy to Company’s level of operations,” it said.

IANS

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