The resolution plan for the crisis hit Jet Airways has been further delayed by various issues, reported Business Standard, citing sources.

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As per the report, the sources said that the delay has been caused due to issues linked to "due diligence in fresh equity investments, promoters’ interests, lenders’ perspective, regulatory hurdles and government concerns."

According to the report, earlier it was expected that a board meeting that was set to be held on February 14 would finalise decisions regarding the deal involving the carrier, Etihad and lenders led by the SBI. However, the report added that it is unlikely that any clear decisions will be taken soon.

The officials, as mentioned in the report, said that even the upcoming extraordinary general meeting (EGM) on February 21 too will only pass the enabling resolutions, leaving decisions regarding the actual deal to be made out in a later period. “A final decision will take more than two to three weeks,’’ one of the sources was quoted as saying in the report.

The delay comes at a time when the carrier, which has a loan of over Rs 8,000 crore, has run out of funds and needs to be restructured immediately in order to avoid insolvency proceedings by the National Company Law Tribunal (NCLT).

First Published:Feb 14, 2019 11:41 AM IST