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Jet Airways extends debt repayment schedule; to repay only a quarter of 2009 amoung

17-Aug-2009 10:45 AM

Jet Airways has reportedly extended the schedule for repaying INR20 billion (USD416 million) in debt from two years to five years, with the carrier to repay INR2.5 billion in 2009, compared to its previous commitment of INR10 billion (Dow Jones, 14-Aug-09). The affected loans, taken out in Dec-2008 and Jan-2009, are reportedly from Indian banks. The carrier reportedly plans to pay INR2.5 billion in 2010, followed by INR5 billion for the three from 2011.