Etihad Airways has kept the Jet Airways rescue plan on hold even after a memorandum of understanding (MoU) between the two partners, it is learnt. In an indication that hurdles remain before the lenders-led resolution plan can be executed, the Etihad board did not take a decision on the proposed deal, especially on interim funding, in a meeting on Monday, sources in the know said. Jet Founder-Chairman Naresh Goyal, in a recent communication to Etihad group CEO Tony Douglas, had made it clear that the Abu Dhabi-based carrier must infuse Rs 750 crore urgently as planes were getting grounded and dues to lessors and staff were pending.
A company executive said in the absence of Etihad board approval to the resolution plan, the clock was ticking for Jet Airways. On Tuesday, four more Jet planes were grounded due to non-payment to lessors, increasing the count of the grounded planes to 54.
