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Jet Airways seeks loan moratorium, fresh funds in struggle for survival

As per a Bloomberg report by P R Sanjai &amp; Saloni Shukla, Jet Airways India Ltd. has approached banks for a moratorium on loans and asked for fresh funds to ease a cash crunch, according to people with direct knowledge of the matter, adding to signs the carrier is sliding deeper into trouble.<br><br>The airline has already grounded about a dozen planes as part of a review of its network aimed at reducing unprofitable domestic routes, said one of the people, who asked not to be identified because the plans aren't public. The Mumbai─based carrier is also studying laying off more employees in non─core areas, the person said.

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