AUCKLAND—The main creditors of India’s Jet Airways have decided to trigger bankruptcy proceedings, which is likely to squash any last hopes of resurrecting the airline. A consortium of Jet’s lenders led by the State Bank of India held a meeting on June 17, after which they stated their decision to “seek resolution” through the insolvency and bankruptcy code (IBC). The consortium highlighted its previous efforts to find new investors for Jet, although SBI noted ...

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