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Jet Airways’ Creditors Said to Agree to Delay Revamp Plan

Dec. 10, 2019, 12:05 PM

Creditors of Jet Airways India Ltd. have agreed to extend the deadline for submission of a resolution plan for the grounded Indian airline’s 146 billion rupees ($2.1 billion) of debt as the sole bidder for the company balks at making a binding offer, said a person familiar with the matter.

The deadline for submission of a resolution plan for the carrier may be extended beyond Dec. 16 as Synergy Group Corp. will not make a binding offer for Jet Airways till it gets clarity from India’s government on the validity of the carrier’s defunct flying slots, the person said, asking ...