Etihad was on the verge of making more investments in cash-strapped Jet Airways, but later dropped the plan. Jet Airways and SBI did not respond to queries till the time of publishing this story. “As a minority shareholder, Etihad is working closely with Indian lenders, the company and key stakeholders to facilitate a solution for Jet Airways," a spokesperson for Etihad said. Jet Airways, which is facing a severe cash crunch, defaulted on a domestic loan repayment in December. Lessors have subsequently taken back Jet’s aircraft, forcing Jet Airways to drastically scale down operations this month.
Source: Mint March 24, 2019 23:03 UTC