Jet Airways sought Rs.400 crore infusion to avert shutdown

Posted on:18 Apr 2019 09:00:04
Jet Airways sought Rs.400 crore infusion to avert shutdown
18 April 2019 Current Affairs: The Jet Airways board authorised its management, headed by chief executive officer Vinay Dube, to engage with lenders to secure at least a few hundred crore rupees of interim funding to continue operations till a new owner comes on board. The board also authorised the CEO to take the final call on the airline’s operations.
Armed with this, the CEO approached the lenders to release Rs.400 crore for the sake of the employees and to prevent a shutdown. Jet requires at least Rs.1,000 crore to meet its immediate needs.
In view of the critical liquidity position of the company, its operations have been severely impacted. It is awaiting emergency liquidity support from the consortium of domestic lenders led by the State Bank of India.
The Jet Airways board authorised its management, headed by chief executive officer Vinay Dube, to engage with lenders to secure at least a few hundred crore rupees of interim funding to continue operations till a new owner comes on board. The board also authorised the CEO to take the final call on the airline’s operations.
Armed with this, the CEO approached the lenders to release Rs.400 crore for the sake of the employees and to prevent a shutdown. Jet requires at least Rs.1,000 crore to meet its immediate needs.
In view of the critical liquidity position of the company, its operations have been severely impacted. It is awaiting emergency liquidity support from the consortium of domestic lenders led by the State Bank of India.

Monthly Current Affairs



Fresherslive telegram Group

Current Affairs Section



Daily Current Affairs Quiz


Daily Current Affairs Videos Video Link
24th May 2019 Current Affairs Video
23rd May 2019 Current Affairs Video
22nd May 2019 Current Affairs Video
21st May 2019 Current Affairs Video
20th May 2019 Current Affairs Video
Watch more Current Affairs Videos





Subscribe to Current Affairs

Enter your email to get daily current affairs
SUBSCRIBE
Download Current Affairs PDF
Weekly pdf's
60 39
at 21 off

Monthly pdf's
250 125
at 125 off

Yearly pdf's
1200 499
at 701 off

YEARLY Current Affairs PDF

  • Yearly Current Affairs 2018 PDF



  • Currentt Affairs 2019 May

    24 MAY
    NEWS
    23 MAY
    NEWS

    Currentt Affairs 2019 April

    30 APRIL
    NEWS
    29 APRIL
    NEWS
    28 APRIL
    NEWS
    27 APRIL
    NEWS

    Currentt Affairs 2019 March

    31 MARCH
    NEWS
    30 MARCH
    NEWS
    29 MARCH
    NEWS
    28 MARCH
    NEWS




    ×
    Download Current Affairs PDF
    Weekly PDF's
    60 39
    at 21 off

    Monthly PDF's
    250 125
    at 125 off

    Yearly PDF's
    1200 499
    at 701 off