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

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.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter