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India's Second-largest Airline Runs Out Of Money

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India's Second-largest Airline Runs Out Of Money

India's Second-largest Airline Runs Out Of Money

According to Business Insider, the Embattled Indian airline Jet Airways will temporarily shut down on Wednesday.

Reuters has reported that India’s second-largest airline has about $1.2 billion in debt and has been working for weeks to secure another loan to continue operations.

However, those discussions fell through, when state-run banks rejected Jet's $58 million request.

Jet operated both domestic and international service from India, including to London, Brussels, Amsterdam and Shanghai.

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