Saturday, October 03, 2020

Jet Airways claims cross Rs 40,000 crore

The amount claimed by creditors of bankrupt Jet Airways has crossed Rs 40,000 crore. As on September 25, FE has learned that the total claims were at Rs 40,259 crore, out of which the company has admitted claims worth Rs 15,525 crore.

While financial creditors have claimed Rs 11,345 crore from the defunct airline, operational creditors, including workmen and employees have claimed Rs 27,719 crore. The lenders other than operational and financial creditors have claimed Rs 1,117 crore and Dutch administrator has filed claims worth Rs 78 crore. The Dutch administrator had submitted claims after Jet Airways was declared bankrupt in the Netherlands.

The beleaguered aviation company has admitted claims worth Rs 7,460 crore from financial creditors. The lead creditor, State Bank of India (SBI), has the highest admitted claims of Rs 1,636 crore, followed by Rs 1,084 crore from Yes Bank, Rs 754 crore from Punjab National Bank (PNB) and Rs 594 crore from IDBI Bank, among others.

Jet Airways is undergoing insolvency proceedings at the National Company Law Tribunal (NCLT) since June 20, 2019.

03/10/20 Ankur Mishra/Financial Express

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