London: An entity set up to finance affiliates of Etihad Airways PJSC said Jet Airways India Ltd has become the third carrier in the group to fall behind on interest payments.
EA Partners I, a vehicle created in 2015 to allow Etihad to provide funds to airlines in which it owned stakes, said in a statement that Jet Airways failed to make a payment on 19 March on account of ‘temporary liquidity constraints.’
Etihad set up two vehicles, EA Partners I and II, which sold $1.2 billion of bonds to raise funds for several airlines. The structure was designed to provide financing for the airlines while minimising the burden on the balance sheet of their Abu Dhabi-based parent company.
