Etihad conditions prompted SBI to start Jet insolvency process
State Bank of India (SBI) cites conditions sought by Etihad Airways in relation to its potential investment in grounded carrier Jet Airways as requiring it to move the process into insolvency proceedings. SBI has been leading a consortium of lenders seeking to revive the cash-strapped carrier. But more than 3 months after the carrier's grounding and after struggling to secure new investment, the lenders June 17 initiated proceedings for Jet within the country's insolvency and bankruptcy code. SBI discloses that Etihad was one of 4 to express their interest alongside equity firms NIIF, TPG Capital and Indigo Partners. When the deadline for firm bids closed May 10 with no firm submissions, SBI says it began discussions with Etihad over "finding a way for infusion of funds". <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-06-24/eap/etihad-conditions-prompted-sbi-to-start-jet-insolvency-process
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Etihad conditions prompted SBI to start Jet insolvency process
State Bank of India (SBI) cites conditions sought by Etihad Airways in relation to its potential investment in grounded carrier Jet Airways as requiring it to move the process into insolvency proceedings. SBI has been leading a consortium of lenders seeking to revive the cash-strapped carrier. But more than 3 months after the carrier's grounding and after struggling to secure new investment, the lenders June 17 initiated proceedings for Jet within the country's insolvency and bankruptcy code. SBI discloses that Etihad was one of 4 to express their interest alongside equity firms NIIF, TPG Capital and Indigo Partners. When the deadline for firm bids closed May 10 with no firm submissions, SBI says it began discussions with Etihad over "finding a way for infusion of funds". <br/>
