{"id":266210,"date":"2019-03-26T04:57:08","date_gmt":"2019-03-26T04:57:08","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=266210"},"modified":"2019-03-26T04:57:08","modified_gmt":"2019-03-26T04:57:08","slug":"naresh-goyal-quits-jet-board-lenders-take-over-cash-strapped-airline","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/naresh-goyal-quits-jet-board-lenders-take-over-cash-strapped-airline\/","title":{"rendered":"Naresh Goyal quits Jet board, lenders take over cash-strapped airline"},"content":{"rendered":"<p>Jet Airways Ltd Chairman Naresh Goyal and his wife Anita Goyal have quit the board of the cash-strapped airline, the airline said on Monday as it closes in on a rescue deal led by state-run banks. <\/p>\n<p>The banks, led by State Bank of India (SBI), will convert their debt into equity and take a controlling stake in the airline for a token sum of 1 rupee ($0.0145), Jet said in a statement to the stock exchanges after a meeting of its board. The lenders will constitute an interim committee to manage the airline, reported news agency Reuters. <\/p>\n<p>Etihad Airways nominee Kevin Knight has quit the board too. Jet said the banks will initiate a bidding process to sell their stake in the airline to a new investor and that the process is expected to be complete by end-June.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jet Airways Ltd Chairman Naresh Goyal and his wife Anita Goyal have quit the board of the cash-strapped airline, the airline said on Monday as it closes in on a rescue deal led by state-run banks. The banks, led by State Bank of India (SBI), will convert their debt into equity and take a controlling stake in the airline for a token sum of 1 rupee ($0.0145), Jet said in a statement to the stock exchanges after a meeting of its board. The lenders will constitute an interim committee to manage the airline, reported news agency Reuters. Etihad Airways nominee [&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":[135,167,130],"tags":[],"class_list":["post-266210","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/266210","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=266210"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/266210\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=266210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=266210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=266210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}