Jet Airways defaults on loan repayment to banks

The airline has been facing a severe cash crunch and has delayed payment of salaries to pilots, aircraft engineers and senior management. Jet is reportedly has held talks with some investors like Tata Group for picking up stake in it. Jet, which has reportedly had three consecutive quarters over Rs 1,000 crore loss each, had Rs 8,052 of debt on its books September 30, 2018.

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