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Jet Airways crisis: India government asks banks to save airline

Indian government has asked state-run banks to rescue the privately held airline without pushing it into bankruptcy [FILE: Danish Siddiqui/Reuters] India’s government has called for an emergency meeting as cash strapped Jet Airways plunged into deeper crisis, with angry passengers demanding refunds and pilots threatening to go on strike over unpaid salaries. India’s Civil Aviation Minister, Suresh Prabhu, asked his officials to call for a meeting to discuss grounding of flights, advance bookings, cancellations, refunds, and any potential safety issues, at India’s oldest private airline. Saddled with debt of more than $1bn, Jet is struggling to stay aloft. It […]

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