Etihad board is believed to be in two minds on extending an interim funding of Rs 750 crore to Jet Airways, ahead of regulatory approvals to the bank-led resolution plan from the civil aviation ministry, Securities and Exchange Board of India, Competition Commission of India and the overseeing committee of the Indian Banks’ Association.
The airline’s board, which met in Abu Dhabi on Monday to take a view on the interim funding sought by Jet’s promoter-chairman Naresh Goyal, has however, officially not communicated its position so far. In response to an email query on the subject, an Etihad spokesperson said, “Etihad Airways does not comment on rumour or speculation.”
With Etihad not taking a quick decision on providing an interim funding of Rs 750 crore based on which banks would have released a matching amount as part of their resolution plan, Jet is set to face even more troubled times.