Jet Airways has delayed repayment of External Commercial Borrowing (ECB) due to temporary liquidity constraints. This is at least the fourth time that the airline has defaulted on debt repayment in recent months. The airline’s board has approved a resolution plan formulated by SBI-led domestic lenders. So far, the airline has grounded over 80 planes due to financial woes.
Jet Airways is India’s premier international airline, which operates flights to India and overseas. The company’s robust domestic India network spans the length and breadth of the country covering metro cities, state capitals and emerging destinations.
