Jet Airways crisis: Naresh Goyal seeks ₹750 crore in funding from Etihad
MUMBAI: Mumbai: Jet Airways (India) Ltd’s outgoing chairman Naresh Goyal has sought an urgent funding of ₹750 crore from equity partner Etihad Airways PJSC, citing “the very precarious” position of the airline. The move comes amid the airline’s lingering cash flow issues, which got amplified after the forced grounding of over 50 of its planes.
In a letter to Etihad chief executive Tony Douglas, Goyal said Jet Airways has secured the go-ahead from the aviation ministry to pledge its shares in Jet Privelege Pvt. Ltd for securing the interim funding. Jet Airways holds 49.9% stake in the loyalty programme, while the majority is with Etihad.
