India’s Jet Airways approves rescue deal to plug $1.2b funding gap

A Jet Airways India Ltd. aircraft prepares to land at Chhatrapati Shivaji International Airport in Mumbai, India, on Monday, July 10, 2017. Photographer: Dhiraj Singh/Bloomberg

India’s Jet Airways said on Thursday its board had approved a rescue deal which will make its lenders its largest shareholders and fix a near 85 billion rupee ($1.2 billion) funding gap.

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