Grounded Jet Airways faces multiple challenges even as lenders act on partner Etihad Airways ' suggestion to find a majority buyer for the airline.Among the major issues are conversion of lenders' debt into equity in absence of required direction from banking regulator RBI & clarity over substantial ownership and management control. "The issue is, by the time all this will happen, it will be too late. "Had Etihad come with the offer to raise its stake to 49 per cent, it would have probably been easier for the lenders to find a majority buyer. Subsequent to this, thousands of employees have left the carrier to join rival companies. The other two bids for the airline were unsolicited.

Source: Economic Times May 14, 2019 14:39 UTC