Jet Airways lenders refuse more funding as airline risks shutdown

Lenders to Jet Airways have refused to bail out the cash-strapped carrier, according to people familiar with the situation, forcing the airline to consider temporarily grounding its flights. Bankers have confirmed that there’s no money coming in for now, the people said asking not to be identified. Jet Airways executives, including operational heads, are meeting in Mumbai Tuesday to take a call on complete halt of operations, according to two persons in the know, even as the failing airline scrambles to get a new investor. The airline is now flying just 7 planes, one of the people said, compared with 123 aircraft as of end-December, according to a company presentation. It was forced to ground 10 planes last week, suspend international flights and has seen pilots agitate over non-payment of salaries <br/>