Mumbai/New Delhi: Etihad Airways PJSC has offered to sell its entire 24% stake in Jet Airways (India) Ltd to State Bank of India (SBI), a person with direct knowledge of the matter said, even as the government held an emergency meeting on Tuesday to discuss the unfolding crisis at the cash-strapped Indian airline.
Etihad chief executive Tony Douglas on Monday met SBI chairman Rajnish Kumar in Mumbai to discuss the Jet Airways bailout plan prepared by a group of lenders.
“Tony Douglas tabled the exit proposal yesterday (18 March). (He has) asked SBI to buy Etihad’s 24% stake at ₹150 per share, or about ₹400 crore (for the full stake),” said the person cited above, requesting anonymity.
