Jet Airways on Thursday posted a loss of Rs 587.77 crore for the quarter ended December 31 against profit of Rs 165.25 crore in the corresponding quarter last year.
Revenue stood at Rs 6,147.98 crore in Q3FY19 over Rs 6,086.20 crore in Q3FY18.
Its shareholders are in the process of finalising the debt resolution plan. Lenders led by State bank of India (SBI) initiated the comprehensive plan under the RBI circular on February 12 last year.
Highlights of Jet debt resolution plan
-The recast includes conversion of lenders' debt into shares.
-Lenders led by SBI to become largest holders in company.
-Resolution plan estimates Rs 8,500 crore funding gap.
-Draft resolution consists of funds infusion, debt restructuring and monetisation of assets.
-Co seeks approval to name lenders' nominees to board.
14/02/19 Economic Times
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Revenue stood at Rs 6,147.98 crore in Q3FY19 over Rs 6,086.20 crore in Q3FY18.
Its shareholders are in the process of finalising the debt resolution plan. Lenders led by State bank of India (SBI) initiated the comprehensive plan under the RBI circular on February 12 last year.
Highlights of Jet debt resolution plan
-The recast includes conversion of lenders' debt into shares.
-Lenders led by SBI to become largest holders in company.
-Resolution plan estimates Rs 8,500 crore funding gap.
-Draft resolution consists of funds infusion, debt restructuring and monetisation of assets.
-Co seeks approval to name lenders' nominees to board.
14/02/19 Economic Times
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