NEW DELHI: Lenders of Jet Airways are likely to pick up a substantial stake in the debt-laden airline till a new promoter is roped in, sources said.
The process of getting a new promoter on board is likely to take another two to three months and once that happens, the banks would offload their stakes, they added.
The State Bank of India-led consortium of lenders is working on a resolution plan for the cash-strapped Jet Airways for the last five months. The full-service carrier has a debt burden of more than Rs 8,200 crore and needs to make repayments worth up to Rs 1,700 crore by March-end.
