{"id":246717,"date":"2019-02-15T05:39:49","date_gmt":"2019-02-15T05:39:49","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=246717"},"modified":"2019-02-15T05:39:49","modified_gmt":"2019-02-15T05:39:49","slug":"banks-get-pilots-seat-in-jet-airways-naresh-goyal-loses-control","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/banks-get-pilots-seat-in-jet-airways-naresh-goyal-loses-control\/","title":{"rendered":"Banks get pilot\u2019s seat in Jet Airways, Naresh Goyal loses control"},"content":{"rendered":"<p>MUMBAI: Jet AirwaysNSE 2.35 % founder promoter Naresh Goyal is set to lose control of his beleaguered airline after the board approved a proposal allowing a consortium of banks to become the largest shareholder. The stake of Goyal, who founded the airline in April 1992, could drop to as low as 20% from 51% now while Etihad Airways \u2014 along with a partner \u2014 may eventually become the biggest shareholder. <\/p>\n<p>Banks, led by State Bank of IndiaNSE -1.07 %, will convert a portion of their debt into equity, making them the largest shareholders, a statement from Jet said on Thursday. <\/p>\n<p>The bank-led resolution plan (BLRP) is \u201cto meet a funding gap of nearly Rs 8,500 crore which is to be met by an appropriate mix of equity infusion, debt restructuring, sale\/sale and leaseback\/ refinancing,\u201d the statement added. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Jet AirwaysNSE 2.35 % founder promoter Naresh Goyal is set to lose control of his beleaguered airline after the board approved a proposal allowing a consortium of banks to become the largest shareholder. The stake of Goyal, who founded the airline in April 1992, could drop to as low as 20% from 51% now while Etihad Airways \u2014 along with a partner \u2014 may eventually become the biggest shareholder. Banks, led by State Bank of IndiaNSE -1.07 %, will convert a portion of their debt into equity, making them the largest shareholders, a statement from Jet said on Thursday. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[192,130,136],"tags":[],"class_list":["post-246717","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/246717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=246717"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/246717\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=246717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=246717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=246717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}