Etihad Airways is unwilling to infuse any funds in the interim in Jet Airways. Sources said the Abu Dhabi-based airline, which has a 24% stake in Jet, has decided to infuse funds only after a bank-led resolution plan (BLRP), which is being piloted by State Bank of India, is finalised and approved. Meanwhile, Jet Airways founder Naresh Goyal has agreed to step down as chairman of the airline’s board.
Etihad’s stance was conveyed to the bankers and Jet Airways at a meeting called by SBI on Wednesday in which Etihad’s CEO Tony Douglas and Jet’s chairman Naresh Goyal were also present. The meeting was held by SBI chairman Rajneesh Kumar.
While Etihad did not agree to most of the points put forward by the lenders, sources said Goyal was agreeable on most the points.
