Business Lenders of bankrupt Jet Airways to attempt to sell carrier again

Lenders to Jet Airways will open bids to sell the bankrupt airline on July 20, as they look to recover about 85 billion rupees ($1.24 billion) of loans, two sources familiar with the matter said on Tuesday. Last month, Jet’s creditors, led by State Bank of India (SBI), took the airline to the bankruptcy court after failing to agree on a revival plan. The airline, grounded since April 17, was admitted to the Mumbai bench of the National Company Law Tribunal on June 20. Since then, the court has… (www.yahoo.com) More...