On January 22, Jet airways declared that had defaulted on debt payment to a consortium of Indian banks, prompting ratings agency ICRA to downgrade the carrier. The airlines now needs to raise at least $250-300 million immediately to pay off its dues to lenders and other vendors
Jet Airways Ltd has agreed to most of the conditions set by its partner Etihad for offering a lifeline to the debt-laden domestic carrier, Business Standard reported on Friday, citing sources.
Both the airlines are set to sign a memorandum of understanding (MoU) within days, which would result into stepping down of Jet Airways founder Chairman Naresh Goyal from the board of directors, the report said.
Jet Airways and Etihad were not immediately available for comment.
Comments
0 comment