Jet Airways Misses Paying $109 Million Loan, Sources Say
- Jet missed payment on $109 million tranche this week: people
- It had also missed payment on $31 million portion earlier
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Troubled Jet Airways India Ltd. missed a $109 million loan repayment due to HSBC Bank this week, people with knowledge of the matter said.
The money was due on March 28, and was part of a two-tranche facility totaling $140 million that the company took from HSBC in 2014, according to the people, who asked not to be identified because the details are private. Jet had also missed payment on the other $31 million tranche that was due on March 11, and hasn’t repaid any of the loan, the people said.