Etihad said to infuse ₹1,600-1,900 crore in Jet Airways
New Delhi: Etihad Airways PJSC is likely to infuse around ₹1,600-1,900 crore into cash-strapped Jet Airways (India) Ltd under a proposed deal wherein Naresh Goyal would step down as chairman of the domestic carrier, according to people aware of the development.
Jet Airways, a full-service airline, has been grappling with acute financial crunch that has also forced it to ground many planes as well as delay payment of salaries and loan repayments.
Under the proposed Jet-Etihad deal, Goyal would step down as chairman of Jet Airways but can nominate two persons to the airline’s board. Goyal would be designated as chairman emeritus while his son Nivaan Goyal would be offered an appropriate executive position subject to certain conditions, the people said, requesting anonymity.
