Cash-crunched Indian carrier Jet Airways Ltd said on Monday it will delay paying interest to its debenture holder. (Photo: Twitter | @jetairways)

Cash-crunched Indian carrier Jet Airways Ltd said on Monday it will delay paying interest to its debenture holder, due March 19, owing to financial constraints. 

Jet has been saddled with debt of over USD1 billion due to tight competition and rising fuel costs, forcing the carrier to ground several of its aircraft.