Jet Airways makes final landing in NCLT court

New Delhi, June 17: Harried bankers on Monday decided against an outright sale of Jet Airways to the lone bidder, instead voted to send it for bankruptcy to recover their Rs 8,000 crore dues.

The once largest private sector airline, started over 25 years ago by airline-ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on April 17 after it ran out of cash and the unpaid lessors took away most of its 100-odd operational airplanes.

The nascent bankruptcy process has been fraught with inordinate delays with only a fraction of the cases have been resolved within the timeline, while the asset in on the books of the once the largest airliner are just fraction of its dues which run into over Rs 36,000 crore.