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Jet Airways proposes late debt repayments to creditors

SINGAPORE: The cash-strapped Jet Airways has proposed to creditors that it would catch up with debt payments in arrears by September, and from April would meet repayments as they come due, according to documents seen by Reuters.
The Naresh Goyal-led airline met with lenders, lessors and vendors on Tuesday to discuss its financial situation and a debt-repayment plan, two sources with direct knowledge of the matter told Reuters. on condition of anonymity.

Jet did not respond to a request for comment. The airline has to make large debt repayments over the next few years, starting with about Rs 1,700 crore ($242 million) by the end of March, ratings agency ICRA said on January 2.

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