Jet Airways and state-owned Air India are struggling to stem losses in the world's fastest-growing domestic aviation market.
The airline said it was looking for a short-term loan of Rs 10bn ($148mn) "to meet urgent working capital requirements".
The government had announced a plan in March to sell a 76% stake in the airline.
Singapore Airlines has an open mind about making an initial bid for a stake in state-run Air India, the head of the Singaporean carrier's India business told Reuters on Thursday.
India will transfer part of Air India's $8.5bn debt pile to a special purpose vehicle before selling a stake in the state-owned carrier, its junior civil aviation minister told Reuters on Friday.
Saudi Arabia does not recognise Israel and lifting the airspace ban would reflect what appears to be thawing ties between Israel and the kingdom.
Saudi Arabia does not recognise Israel and lifting the 70-year-old airspace ban would reflect what appears to be thawing ties between Israel and the kingdom.