Lenders to cash-strapped Jet Airways will finalise their decision of recasting loans of over Rs 8,000 crore and providing fresh financial support in three weeks, a source familiar with the development told Business Standard.
Senior bank executives held a detailed discussion on January 2 on options including fresh capital infusion by the management and/or some new investors, the report said.
While Jet Airways’ board is yet to make a concrete proposal, promoter Naresh Goyal may have to give up control in the company, the report said.
Earlier this week, Jet delayed the payment of interest and principal amount due to the consortium of banks on December 31 citing mismatch of cash flow, resulting in rating agency ICRA to downgrade the airline to “D.”
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