Ltd, filed separate insolvency pleas against Jet Airways at NCLT, Mumbai, for recovery of their dues. The Export-Import (Exim) Bank of the US could, however, initiate proceedings to take back at least six planes it financed for Jet Airways. Jet Airways’ lenders, led by SBI, have been trying to resolve the insolvency crisis at the airline outside NCLT due to fear of little or no recovery. Jet Airways hasn’t flown since 17 April after it grounded all its operations due to a severe cash crunch. Shares of Jet Airways fell nearly 17% on Monday to ₹68.30 on the BSE, widely underperforming the benchmark Sensex’s 1.25% fall.

Source: Mint June 17, 2019 12:08 UTC