The Jet Airways’ turnaround plan, if approved by all stakeholders, will trigger a change in Jet Airways’ shareholding, with founder chairman Naresh Goyal’s stake falling below the current 51%. Mint reported on 7 December that Etihad Airways has offered to guarantee loans worth $150 million for Jet Airways to keep the airline operational. According to estimates, Jet Airways needs close to $500 million between now and April to meet repayment obligations and manage operating expenses. Requests for comments sent to Jet Airways and SBI remained unanswered until publishing of this story. Jet Airways, which has been facing financial turbulence for a while, has been in talks with potential investors to raise fresh equity.

Source: Mint January 09, 2019 00:45 UTC