INSUBCONTINENT EXCLUSIVE:
Airways are likely to recover less than 10 per cent of the carrier's total outstanding dues in a liquidation scenario if no suitor
succeeds in buying the airline, two sources told Reuters.The airline's financial and operational creditors, who are owed nearly Rs 30,000
crore ($4.20 billion) are likely to recover only $300-$400 million from the sale of Jet's assets, the sources, who have direct knowledge
of the matter, said."The expected recovery on owned planes and real estate is $300-400 million after repaying debt tied specifically to
those assets," said one of the sources.The sources, who asked not to be named as they have not been cleared to discuss the matter with
media, said Jet currently has some four to six Boeing and Airbus aircraft, and some real estate assets in India, on which there are some
outstanding dues.The airline, less than a year ago, was operating a fleet of more than 120 planes that flew to dozens of domestic
destinations and international hubs such as Singapore, London and Dubai.Once India's biggest private carrier, Jet stopped flying in April
after running out of cash, leaving thousands without jobs and pushing up air fares across the country
It was admitted to bankruptcy court in June after its lenders, led by State Bank of India, failed to agree on a revival plan.The
court-appointed resolution professional, now responsible for the company, declined to comment and said that the focus remains on resolution
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