Lenders agreed to pump in funds as this was the only way to keep the airline operational and give them a chance to recover their dues of over Rs 8,000 crore. The government was also keen that the carrier continue to operate as closure would cause large-scale job losses, severely reduce airline capacity in the country and wipe out any chance of creditors recovering their money.

from Times of India https://timesofindia.indiatimes.com/business/india-business/jet-gets-a-lifeline-as-naresh-goyal-quits-as-chairman/articleshow/68569964.cms