Cash-strapped and troubled airline Jet Airways, which was on the verge of collapse, has finally got a bailout package from its lenders which paves the way for its revival. The company said its board on Thursday approved a bank-led resolution plan (BLPRP) received from the State Bank of India, which was appointed lead lender by a consortium of domestic lenders under the RBI circular of February 12, 2018.
Once approved by all the required sections, lenders led by SBI would become the largest stakeholder in the airline.
The resolution plan includes infusion of funds, restructuring of debt and monetisation of assets.
