Lenders to Jet Airways might be staring at a rocky path ahead of them as the bidders have asked for a haircut of 70-75 per cent on the total debt.
According to a source close to the development, potential investors including Etihad Airways, the Hinduja Group and AdiGro have asked for a steep haircut from the lenders as a pre-condition to picking up an equity stake in the company.
Jet Airways owed Rs. 14,000 crore to financial and operational creditors before the temporary shutdown of operations on April 17. Top executives from Etihad Airways and the Hinduja Group met officials from State Bank of India on Thursday in a bid to cobble up a deal. London-based AdiGro was also understood to be part of the discussion.
