Business Today

Death Rattle?

Jet Airways might be heading for bankruptcy as it seems to have lost the chance to secure a buyer

Will jet airways fly again? That's the question everyone has been asking ever since it shut operations in mid April. The only meaningful assets that it has, airport slots (about 766), will go permanently to rivals by July end if it is unable to find a buyer and fly again by then. And the only two entities interested in buying it Etihad and Hinduja Group are reported to have made it clear that they don't want to take majority stake in the airline. That leaves bankers, who are owed Rs 8,500 crore out of Jet's total liabilities of over Rs 17,000 crore, with no options.

With most of its prized assets gone, Jet, by all accounts, is in a bigger mess than Kingfisher Airlines ever was considering that the latter owed banks just Rs 6,000 crore when it went bust. A large number of Jet's grounded planes have gone back to lessors, and some

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