Rescue deal is no panacea for India’s struggling Jet Airways
New Delhi: Jet Airways’ investors are cheering this week’s government-led rescue deal, but the cash-strapped Indian airline’s future looks mired in uncertainty as convincing a new investor to come on board may not be easy.
The airline, which was on the brink of bankruptcy, was bailed out on Monday by state-run banks, which have temporarily taken a majority stake in the company, given it a new loan of USD 218 million and forced its chairman, Naresh Goyal, to step down from the board of the airline he founded 25 years ago.
