Tuesday, February 26, 2019

SBI calls lenders' meeting with Jet Airways chairman Naresh Goyal, Etihad CEO Tony Douglas

State Bank of India (SBI) has called an urgent meeting of lenders with Jet Airways Chairman Naresh Goyal and the domestic carrier's significant shareholder Etihad Airways' CEO Tony Douglas on February 27 to discuss a way forward for the debt-laden airline, sources said.
The meeting, to be held at SBI's office in Mumbai, assumes significance amid differences persisting between Goyal, the lenders and Etihad, which has 24 percent stake in Jet Airways.
SBI is the lead lender of a consortium that has extended loans to Jet Airways.
While there was no official word from the airline, as also from the lenders, officials aware about the development said the meeting has been called by SBI and both Goyal and Douglas would be present.
Earlier on February 25, Jet and Etihad said in a joint statement they along with key financial stakeholders are working towards finalisation of bank-led provisional resolution plan for the debt-laden domestic airline.
The two carriers have also expressed confidence that once the plan is implemented, Jet Airways would "re-emerge as a viable and robust airline to reclaim its rightful place as airline of first choice for its customers".
The joint statement has been issued by Goyal and Douglas.
26/02/19 PTI/moneycontrol.com

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