Lenders to Jet Airways plan to begin insolvency proceedings against the debt-laden carrier, a consortium of the airline's lenders said in a statement on Monday. "After due deliberations, lenders have decided to seek resolution under IBC since only a conditional bid was received," said the lenders, referring to India's Insolvency and Bankruptcy Code.

Jet Airways' lenders to take airline to bankruptcy court

It is judgement day for Jet Airways on Friday as lenders to India’s oldest privately-held airline will meet later in the day and are expected to announce a winning bid for the airline. Jet Airways’ hope to regain its wings hinges on the offers that it receives on May 10, which is the last day to submit binding bids for a potential takeover of the airline.

WION Wallet: Judgement day for Jet Airways as bidding closes today

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Jet Airways' lenders to take airline to bankruptcy court

WION Wallet: Judgement day for Jet Airways as bidding closes today