Banks propose $900 million turnaround plan for Jet Airways2 min read 09 Jan 2019, 06:12 AM IST
The Jet Airways' debt resolution plan, if approved by all stakeholders, will trigger a change in Jet Airways' shareholding pattern, with founder chairman Naresh Goyal's stake falling below the current 51%
Mumbai: Local lenders to Jet Airways (India) Ltd, led by State Bank of India (SBI), on Tuesday proposed a $900 million resolution plan, comprising fresh equity infusion and restructuring of $450 million of its loans, two people directly aware of the development said. 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%.
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