{"id":247214,"date":"2019-02-15T07:32:24","date_gmt":"2019-02-15T07:32:24","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=247214"},"modified":"2019-02-15T07:32:24","modified_gmt":"2019-02-15T07:32:24","slug":"in-rescue-effort-banks-to-acquire-majority-stake-in-jet","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/in-rescue-effort-banks-to-acquire-majority-stake-in-jet\/","title":{"rendered":"In rescue effort, banks to acquire majority stake in Jet"},"content":{"rendered":"<p>A consortium of commercial banks led by State Bank of India (SBI) will acquire a majority stake in Jet Airways (India) Ltd. by converting part of their debt into equity for a consideration of Rs. 1 and advancing more capital to give the airline a lifeline to enable it to achieve a turnaround.<\/p>\n<p>Jet Airways\u2019 board, on Thursday, considered and approved a bank-led provisional resolution plan (BLPRP) that proposes restructuring under the provisions of the \u2018RBI Circular\u2019 to meet a funding gap of nearly Rs. 8,500 crore, including proposed repayment of aircraft debt of Rs. 1,700 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A consortium of commercial banks led by State Bank of India (SBI) will acquire a majority stake in Jet Airways (India) Ltd. by converting part of their debt into equity for a consideration of Rs. 1 and advancing more capital to give the airline a lifeline to enable it to achieve a turnaround. Jet Airways\u2019 board, on Thursday, considered and approved a bank-led provisional resolution plan (BLPRP) that proposes restructuring under the provisions of the \u2018RBI Circular\u2019 to meet a funding gap of nearly Rs. 8,500 crore, including proposed repayment of aircraft debt of Rs. 1,700 crore.<\/p>\n","protected":false},"author":44,"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-247214","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/247214","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=247214"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/247214\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=247214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=247214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=247214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}