After Kingfisher, Jet Airways seeks fund to pay off debt

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Jet Airways
New Delhi, Nov 17: After Indian Airlines, Jet Airways is facing serious economic crisis and has sought funds to pay off its debt. According to Jet Airways sources, the company's debt level has been impacted by the depreciation in rupee.

Sources also informed that current debt in books for Jet Airways stands at Rs 14000 crore and officials on Wednesday, Nov 16 claimed that the debt would come down by Rs 1500 crore in the next six months.

Crisis in Jet Airways have come into news when another major airlines company - Kingfisher also seems to have been hit by economical crisis. Earlier, it was reported that Kingfisher sought help from the central government to clear its debt.

However, later clarifying all doubts on bailout, layoff and shutting down reports of the company, its chief, Vijay Mallya on Tuesday had said, "We have never asked government to pay from the tax payers money. I have also not applied for any restructuring and have asked for additional working capitals from banks."

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