Etihad poised to take effective control of Jet Airways3 min read 14 Jan 2019, 03:13 PM IST
Given the precarious financial situation of Jet Airways, lenders don't expect promoter Naresh Goyal to bring in additional funds
Lenders are banking on Etihad Airways to bail out the airline
Mumbai: Etihad Airways PJSC may gain effective control of Jet Airways (India) Ltd, if lenders approve a resolution plan for the cash-strapped local airline, according to two people familiar with the ongoing discussions. The plan could see Etihad Airways raise its stake from the current 24%, and Jet Airways’s promoter and founder Naresh Goyal cede control of the airline that began operations more than two and a half decades ago, said the people cited above, requesting anonymity.
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