Business

Beleaguered airline Jet Airways said on Wednesday it was discussing with shareholders about a resolution plan with State Bank of India (SBI).The carrier, which has been grappling with financial woes, defaulted on loan repayment to a group of lenders led by SBI on December 31, 2018."SBI in consultation with other members of consortium and other stakeholders has been working on a comprehensive resolution plan towards a turnaround of company for its sustained growth and restoration of financial health," Jet Airways said.The plan contemplates options on debt-equity mix, proportion of equity infusion by stakeholders and change in airline's board, full-service airline said in a statement.It also said resolution plan is under active discussion amongst stakeholders and that various options are yet to be crystallised and agreed to by stakeholders in best interests of company.Shares in Jet Airways ended7.5 per cent lower at Rs271.75 apiece on NSE, whose benchmark index finished nearly unchanged.





Unlimited Portal Access + Monthly Magazine - 12 issues


Contribute US to Start Broadcasting - It's Voluntary!


ADVERTISE


Merchandise (Peace Series)