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The fate of Jet Airways hinges on whether lenders decide to extend emergency funding to the troubled airline on Monday. SBI and other lenders will examine a proposal for an interim financing arrangement without which the broke airline will have to down shutters, thwarting a move by banks to find a new owner for the airline.
The Rs 1,500 crore emergency funding is the same that was promised by lenders on March 25 but that was not released following uncertainty about new investors.
The fate of Jet Airways hinges on whether lenders decide to extend emergency funding to the troubled airline on Monday. SBI and other lenders will examine a proposal for an interim financing arrangement without which the broke airline will have to down shutters, thwarting a move by banks to find a new owner for the airline.
The Rs 1,500 crore emergency funding is the same that was promised by lenders on March 25 but that was not released following uncertainty about new investors.
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