The fate of Jet Airways continues to hang in balance. Gulf airline Etihad and lenders to Jet Airways have been interacting over the past two days to discuss ‘emergency funding’ that Etihad would release to the cash-strapped airline.
The amount under consideration is around $35 million which would last the next few weeks during which Etihad, along with banks, plans to approach capital market regulator Sebi on the pricing for fresh equity — as laid down in Reserve Bank of India’s February 12, 2018, circular and the regulator’s rules on issue of capital and disclosure requirements.
“The situation is still fluid. No firm decision has been reached on the funding or its structure. But the reality is that the airline needs money at the earliest. Read more