Jet Airways' debt is in excess of over $1 billion. I suspect there aren't that many brave souls out there who would come in, eyes wide open, and be willing to assume the liabilities (irrespective of the haircut offered). The airline also has considerable debt owed to suppliers, lessors etc. In my view, it's over. " Meanwhile, a group of Jet Airways' employees last week requested a consortium of lenders led by State Bank of India (SBI) to allow a section of employees to bid for the ailing airline. Jet Airways, which was grappling with its debt since the end of last year, grounded its aircraft and stopped its operations since April 17, 2019, due to severe cash crunch. At 11.50 am, Jet's share was trading at Rs 127, their lowest since March 2009.