Won’t invest further in Jet Airways, Etihad tells SBI

MUMBAI | NEW DELHI: Etihad Airways is believed to have formally conveyed to Jet Airways’ top lender State Bank of India that it won’t make any further investment in Jet. It will also not be a part of the fundraising deal drawn up by the consortium of lenders, according to three people in the know. The Gulf airline, which owns about a quarter of Jet, may eventually exit, making prospects of the beleaguered airline’s revival bleak.

Meanwhile Jet AirwaysNSE -3.36 % chairman Naresh Goyal and his son Nivaan Goyal flew to Doha and gave a presentation to Qatar Airways global CEO Akbar Al Baker, said a fourth person close to the development.