On 14 February, Jet Airways' board approved a Bank-Led Provisional Resolution Plan (BLPRP), whereby lenders would become the largest shareholders in the airline. Queries sent to Etihad Airways and NIIF on their proposed investments in Jet Airways remained unanswered. Query sent to Jet Airways about Goyal's stake coming down to around 20 per cent after debt-rejig did not elicit any immediate response. In the three months ended December 2018, Jet Airways reported a consolidated net loss of ₹732 crore. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said the restructuring exercise is likely to steer Jet Airways away from the turbulence it has been going through for many years now.

Source: Mint February 17, 2019 12:22 UTC