Friday, January 04, 2019

Jet Airways plans to secure debt using revenue from ticket sales: Media report

Shares of debt-ridden airline company Jet Airways dropped 3% on Friday after an Economic Times report suggested that the company is planning to utilize its revenue from ticket sales to secure its debt.

As per the report, the company will use part of the money from advance sales of tickets that would go to an escrow account, which further can be accessed by banks against debt. Additionally, the company is also said to have approached the upper echelons of officials earlier this week in pursuit of a rescue by state-run banks.
04/01/19 IndiaInfoline