New Delhi: Banks are likely to infuse fresh funds into cash-strapped Jet Airways (India) Ltd, provided major shareholders of the airline, including Gulf carrier Etihad Airways PJSC, pledge their shares as collateral, said people aware of the matter. With the airline unable to get fresh funds, the options are limited now, they added.
Jet Airways is grappling with acute financial woes that has resulted in grounding of a significant number of planes, defaulting on debt repayments and delay in payment of salaries to pilots and other senior officials.
Founder chairman Naresh Goyal and his family owns around 52% stake in Jet Airways while Etihad, a strategic partner, has 24% shareholding.
