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Bidding for India's Jet Airways to start as more planes grounded

Timing of cash infusion from banks likely hinges on stake sale

MUMBAI -- The lenders leading the rescue of debt-laden Jet Airways said they will open bidding Saturday for a stake in the Indian carrier but kept mum on the timing of a 15 billion rupees ($218 million) cash infusion needed to keep it running.

The consortium led by State Bank of India announced the bidding Thursday, amid a deepening crisis at the airline.

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