SBI confident of finalising resolution plan for Jet Airways next week

Amidst increasing differences between Jet Airways and Etihad Airways, the only party that can bailout the beleaguered airline, over the equity cap that its founder chairman Naresh Goyal can hold after his forced exit, bankers on Friday exuded confidence of reaching a resolution plan as early as next week.

After agreeing to cap his shareholding at 22 per cent for perpetuity and completely exit the airline’s management as a precondition for a bailout that Etihad and bankers demanded, Goyal had last Friday wrote to Etihad to remove the perpetuity clause from the resolution plan and also the Gulf carrier immediately offer a lifeline of Rs 750 crore failing which the airline may get grounded.