Etihad Airways is learnt to have abstained from voting on several resolutions to convert Jet Airways’ debt into equity in the EGM the Naresh Goyal-led airline held last Thursday. Etihad has laid down stiff conditions for backing the resolution, a move that could delay the deal to bail out Jet. A delay in resolution will further squeeze Jet Airways, which is negotiating interim funding from banks.
The lenders’ consortium is considering a Rs 500-crore loan, but a final decision is yet to be taken, Punjab National Bank Managing Director Sunil Mehta had said on Friday.
