Mumbai: The board of Etihad Airways PJSC will meet 31 March to take a final decision on whether the Abu Dhabi-based carrier should make a fresh investment in Jet Airways (India) Ltd or exit the ailing airline, two people directly aware of the development said.
Etihad’s chief executive, Tony Douglas, who met State Bank of India (SBI) chairman Rajnish Kumar in Mumbai on 18 March, has sought a term sheet from Indian lenders, which require them to buy Etihad’s 24% stake in Jet Airways if the UAE airline decides to sell. Alternatively, Etihad will make fresh investments in the Mumbai-based carrier only after the lenders agree to fulfil specific conditions.
“Etihad has laid down certain conditions, which includes removal of the Naresh Goyal group from the board altogether,” one of the two people cited earlier said on condition of anonymity.
