Jet Airways' creditors weighing restructuring plan

Jet Airways' lenders are considering a plan to resolve its debt issues, top creditor State Bank of India said Thursday, amid media reports two main shareholders have yet to resolve their differences. “Lenders are considering a restructuring plan under the RBI (Reserve Bank of India) framework for the resolution of stressed assets that would ensure long-term viability of the company,” SBI said. Jet on Wednesday said a plan involving a cash injection by stakeholders and board changes was under discussion. Jet Chairman Naresh Goyal said in a letter to SBI’s chairman that he is willing to invest 7b rupees ($98.48m) in the airline and pledge all his shares but wants to retain a 25% stake in the carrier he founded, TV channels reported on Thursday. However, Etihad Airways, which holds a 24% stake, wants Goyal to step down from the board and cut his stake to 22 from 51%, according to reports. Etihad told the SBI in a separate letter it was willing to buy more shares in Jet and immediately pump $35 million into the troubled carrier if Goyal does so. Jet said Thursday that Goyal had communicated his position to SBI and that it was under consideration. <br/>