The National Company Appellate Tribunal (NCLT) today admitted lenders and creditors plea against Jet Airways. IRP has been given 3 months time to find a resolution. This is a highly improbable task unless otherwise a strategic investor comes forward which looks quite unlikely. The bid of Etihad Airways is only for a minority stake that too with too many conditions.
Liquidation seems to be the only solution with all lenders and creditors taking a huge hit. A sad ending for once fledging airline.
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