Jet down to 5 flights, faces temporary shutdown as lenders continue huddle

Lenders are divided on how to bail out Jet Airways, indicated a banker on Tuesday as the airline's management asked for immediate infusion of funds and proposed temporarily suspending all operations.

"Lenders are committed to a revival plan for Jet Airways," Punjab National Bank's Managing Director Sunil Mehta was quoted by Reuters as saying. "SBI is working on the emergency funding, everything is under discussion, nothing is finalised," he said, referring to the State Bank of India, which leads consortium of lenders.

Jet Airways has sought emergency funds from banks and has reduced the number of flights to five, said