Jet Airways expects lenders’ nod for resolution plan next month
Jet AirwaysNSE 1.02 % expects to start getting approvals from lenders for its resolution plan from next month, a senior executive said Thursday. The executive spoke on the sidelines of an extraordinary general meeting called to seek shareholder approval for enhancing the airline’s share capital, nominate board members from lenders and convert debt into equity, all of which are part of the resolution plan.
The airline’s board approved the plan on February 14 to meet a funding gap of Rs 8,500 crore through a mix of equity infusion, debt restructuring and sale/sale and leaseback/refinancing of aircraft, among other steps.
