ETMarkets.com|Jan 02, 2019, 10.05 AM ISTThe airline said that payments were delayed due to temporary cashflow mismatch.NEW DELHI: Shares of Jet Airways dropped 2 per cent in Wednesdays trade after company defaulted on payment of interest and principal installment due to consortium of SBI-led banks.At 9.40 am, scrip was trading 2.21 per cent lower at Rs 274.85 on BSE.The airline said that payments were delayed due to temporary cashflow mismatch.
The company is engaging with lenders in relation to same.There were reports earlier that company was in talks with SBI for raising Rs 1,500 crore short-term loan to meet its working capital requirement and some payment obligations, a source said.Reports had suggested that Jets strategic partner and Middle-east carrier Etihad, which holds 24 per cent stake in Indian full service carrier, was likely to provide a guarantee for loan.Commenting feature is disabled in your country/region.From Around The WebMore from The TheIndianSubcontinent