Jet Airways crisis: Management of the debt-laden airline plans to halt ops

The management of India's Jet Airways has proposed to suspend all operations of the debt-laden airline at its board meeting, a news channel reported on Tuesday quoting sources.

Former Chairman Naresh Goyal has withdrawn from making a bid for a stake in the company, the television channel reported.

Jet Airways shares were down as much as 18.53 per cent, their worst session since August 2015.

On Monday, the airline in a letter to its employees said it planned to extend its suspension of international flights until Thursday as it had not received any interim funding from lenders.