Jet Airways’ rescue plan runs into rough weather

MUMBAI: The deal to rescue Jet AirwaysNSE 0.32 % has hit an air pocket. Lenders have told Jet’s strategic partner Etihad Airways that if it is unable to accept the terms to revive the troubled airline, it should exit so that a new investor can be brought in.

Etihad, saddled with losses and unsure of the resolution plan and its probable outcome, is understood to have said that it could exit at a price of Rs 150 a share.

“This could well be pressure tactics but it has not gone down well with the government and the National Investment and Infrastructure Fund (NIIF), which was planning to invest. But the question is, where is the buyer even if Etihad offers to sell its stake?” said a person familiar with the developments.