<article>Debt-laden Jet Airways Ltd has delayed the payment to a consortium of Indian banks, led by State Bank of India Ltd, the airline said late Tuesday.</article>

Debt-laden Jet Airways Ltd has delayed the payment to a consortium of Indian banks, led by State Bank of India Ltd, the airline said late Tuesday.
The payment of interest and principal instalment was delayed &#8220;due to temporary cash flow mismatch&#8221; and the company is in talks with the consortium. The deadline for the payment was Dec. 31, 2018, Jet said here in a statement.
The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors and vendors. Intense pricing competition, a weak rupee and rising fuel costs weighed on Indian airlines in 2018.
Jet and its second-largest shareholder Etihad Airways are in talks with bankers on a rescue deal that may involve the Abu Dhabi-based airline increasing its stake from 24 percent.
Reuters

Jet and its 2nd-largest shareholder Etihad Airways are in talks with bankers on a rescue deal that may involve the Abu Dhabi-based airline increasing its stake from 24%.

Indian carrier Jet Airways defaults on debt payment to banks

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Indian carrier Jet Airways defaults on debt payment to banks

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