Goyal and Etihad back Jet Airways revival plan
Jet Airways' two largest shareholders, chairman Naresh Goyal and Etihad Aviation Group, have backed the bank-led bailout plan for the struggling Indian airline. Goyal and Etihad CE Tony Douglas, say that a number of stakeholders are working towards "the finalisation and subsequent implementation of the bank-led provisional resolution plan to ensure that the carrier emerges as a financially strong and resilient airline." Their comments follow the approval by shareholders to approve a plan to a group of Jet's lenders to swap their debt for US$16m in equity at a Feb 21 extraordinary general meeting, which they describe "as an important step in this direction." It is still unclear when the debt-for-equity swap will take place. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-02-27/eap/goyal-and-etihad-back-jet-airways-revival-plan
https://portal.staralliance.com/cms/logo.png
Goyal and Etihad back Jet Airways revival plan
Jet Airways' two largest shareholders, chairman Naresh Goyal and Etihad Aviation Group, have backed the bank-led bailout plan for the struggling Indian airline. Goyal and Etihad CE Tony Douglas, say that a number of stakeholders are working towards "the finalisation and subsequent implementation of the bank-led provisional resolution plan to ensure that the carrier emerges as a financially strong and resilient airline." Their comments follow the approval by shareholders to approve a plan to a group of Jet's lenders to swap their debt for US$16m in equity at a Feb 21 extraordinary general meeting, which they describe "as an important step in this direction." It is still unclear when the debt-for-equity swap will take place. <br/>
