Jet Airways skids 10% on Etihad’s non-binding offer; deputy CEO resigns
Jet Airways (India) slumped 10 per cent to Rs 126 on the BSE in early morning trade on Tuesday, falling 17 per cent in the past two trading days, following a news report that Etihad Airways had put in stiff conditions in its bid that includes substantial write down of the Rs 9,000-crore loan.
Moreover, the cash-strapped airline on Tuesday said Deputy Chief Executive Officer and Chief Financial Officer (CFO), Amit Agarwal has resigned from the company “due to personal reasons, with effect from 13 May 2019.”
According to a Business Standard report, Etihad Airways has put in stiff conditions, which include a substantial write down of the Rs 9,000-crore loans, as a prerequisite to run Jet Airways. The Abu Dhabi-based airline has also put the onus of finding a majority investment partner on the Jet lenders.
