MUMBAI: Etihad Airways PJSC’s bid for a minority stake in grounded Jet Airways India Ltd is non-binding and subject to fulfilment of certain conditions by Jet’s lenders, two people aware of the matter said, requesting anonymity.
Jet Airways, in which Etihad owns 24%, shut operations last month after lengthy talks with Jet’s founder Naresh Goyal, external investors and Etihad were not successful.
Among its conditions, Etihad Airways wants an exemption from an open offer that may be triggered by a change in ownership structure of Jet Airways. More importantly, it wants a commitment from banks on additional loans, once it infuses equity into the company.
