Jet Airways set to delay repayment of external borrowings amidst liquidity trouble

Crisis-hit Jet Airways Monday defaulted on part repayment of its external commercial borrowings due to liquidity crunch. Specific details about the borrowings were not disclosed.

"... the part repayment of the external commercial borrowing availed by the company, for working capital purposes, falling due on March 11, 2019, has been delayed owing to temporary liquidity constraints," the airline said in a filing to the stock exchanges. The company has engaged with the lender in relation to the same, it added. On March 8, Jet Airways Chairman Naresh Goyal wrote to the airline's strategic partner Etihad's CEO Tony Douglas seeking urgent funding of Rs 750 crore.