Jet Airways Ltd’s shares today climbed as much as 9% to ₹277 on BSE to a near two-month high after founder and chairman Naresh Goyal stepped down and lenders took control of the airline, in an attempt to rescue it from bankruptcy.
Banks on Monday moved in to take a majority stake in the airline after Jet failed to convince potential investors, including its largest shareholder Etihad Airways, to save the airline.
Under the rescue plan, Jet’s lenders, led by State Bank of India (SBI), will issue a loan of ₹1,500 crore to meet the airline’s obligations and will form an interim management committee to oversee operations.
