June 20, 2019 / 1:46 PM / 5 months ago

India's bankruptcy court admits insolvency plea against Jet Airways

BENGALURU, June 20 (Reuters) - India’s bankruptcy court, National Company Law Tribunal, on Thursday decided to admit an insolvency petition against Jet Airways Ltd filed by its creditors in an attempt to salvage some of their ownership.

The insolvency process will allow lenders led by State Bank of India to sell the company as a whole or sell its assets and bring to an end weeks of uncertainty over the airline’s future. (Reporting by Chandini Monnappa in Bengaluru; Editing by James Emmanuel)

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