{"id":247040,"date":"2019-02-15T05:57:25","date_gmt":"2019-02-15T05:57:25","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=247040"},"modified":"2019-02-15T06:12:04","modified_gmt":"2019-02-15T06:12:04","slug":"banks-come-up-with-rescue-package-for-jet","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/banks-come-up-with-rescue-package-for-jet\/","title":{"rendered":"Banks come up with rescue package for Jet"},"content":{"rendered":"<p>After months of negotiations, lenders led by State Bank of India are set to take control of debt-laden Jet Airways, with the company board on Thursday approving a bank-led provisional resolution plan.<\/p>\n<p>Under this plan, the SBI-led lenders will convert the debt into 11.4 crore shares for just Rs. 1. With that, the lenders will become the largest shareholders in the company, with a stake of about 50 per cent.<\/p>\n<p>This comes even as Jet Airways on Thursday posted a loss of Rs. 587.77 crore for the quarter ended December 31, against a profit of Rs. 165.25 crore in the corresponding quarter of the previous year. Revenue stood at Rs. 6,147.98 crore ( Rs. 6,086.20 crore).<\/p>\n<p>Higher costs due to the price of Brent crude (up 29 per cent YoY) and the depreciated rupee impacted the airline\u2019s business performance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After months of negotiations, lenders led by State Bank of India are set to take control of debt-laden Jet Airways, with the company board on Thursday approving a bank-led provisional resolution plan. Under this plan, the SBI-led lenders will convert the debt into 11.4 crore shares for just Rs. 1. With that, the lenders will become the largest shareholders in the company, with a stake of about 50 per cent. This comes even as Jet Airways on Thursday posted a loss of Rs. 587.77 crore for the quarter ended December 31, against a profit of Rs. 165.25 crore in the [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-247040","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/247040","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=247040"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/247040\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=247040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=247040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=247040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}