Etihad in rescue talks with bankers for India's Jet Airways-sources
Jet Airways and second-largest shareholder Etihad Airways have been holding rescue talks with bankers of the indebted Indian carrier, 3 people aware of the matter said Wednesday. Executives of the airlines met State Bank of India officials in recent days to discuss Jet's cash flow and business plan, 2 of the people said. One said Jet has outstanding dues of about US$400, mainly owed to lessors and vendors. Etihad is also considering raising its stake above the 24% it has held since 2013, said one of the people. Foreigners can own up to 49% of an Indian carrier. More cash from Etihad is not guaranteed considering its own financial state, one of the people said. The airline reported a $1.52b annual loss for 2017 due in part to insolvency partnerships Alitalia and Air Berlin. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-12-06/eap/etihad-in-rescue-talks-with-bankers-for-indias-jet-airways-sources
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Etihad in rescue talks with bankers for India's Jet Airways-sources
Jet Airways and second-largest shareholder Etihad Airways have been holding rescue talks with bankers of the indebted Indian carrier, 3 people aware of the matter said Wednesday. Executives of the airlines met State Bank of India officials in recent days to discuss Jet's cash flow and business plan, 2 of the people said. One said Jet has outstanding dues of about US$400, mainly owed to lessors and vendors. Etihad is also considering raising its stake above the 24% it has held since 2013, said one of the people. Foreigners can own up to 49% of an Indian carrier. More cash from Etihad is not guaranteed considering its own financial state, one of the people said. The airline reported a $1.52b annual loss for 2017 due in part to insolvency partnerships Alitalia and Air Berlin. <br/>
