NEW DELHI: Unless Jet Airways founder Naresh Goyal is able to arrange for funds over the next 24-48 hours, lenders led by State Bank of India could take over the cashstrapped Jet Airways by Monday and simultaneously seek the exit of Goyal and his nominees from the airline\u2019s board.
\nBankers are then expected to rope in professionals to run the airline for a few months before finding a suitor for what was once India\u2019s largest airline, sources told TOI.
\nAs things stand, Etihad (which has 24% stake in Jet) seems reluctant to pump in more funds and may also sell its stake to the consortium of bankers, which will then have a stake of 60-65% in the airline, sources added.
\nIt is not just the loan of over Rs 8,200 crore that stares at the prospective new owners. \u201cJet\u2019s total debt is in the range of Rs 8,000-9,000 crore. Plus, there are payables of Rs 15,000 crore and estimated advance ticket sales of Rs 3,500 crore. <\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Unless Jet Airways founder Naresh Goyal is able to arrange for funds over the next 24-48 hours, lenders led by State Bank of India could take over the cashstrapped Jet Airways by Monday and simultaneously seek the exit of Goyal and his nominees from the airline\u2019s board. Bankers are then expected to rope in professionals to run the airline for a few months before finding a suitor for what was once India\u2019s largest airline, sources told TOI. As things stand, Etihad (which has 24% stake in Jet) seems reluctant to pump in more funds and may also sell […]<\/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":[220,130,137],"tags":[],"class_list":["post-265844","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/265844","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=265844"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/265844\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=265844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=265844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=265844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}