INSUBCONTINENT EXCLUSIVE:
Etihad also wants Jet's founder and Chairman Naresh Goyal to step down from board.State Bank of India (SBI) said on Thursday lenders of
Jet Airways Ltd were considering a plan to resolve debt issues of carrier, amid increasing prospects of a bailout by major shareholder
Etihad Airways.Jet said on Wednesday a resolution plan, currently being discussed with stakeholders, contemplates options on debt-equity
mix, proportion of equity infusion by stakeholders and change in airline's board."SBI would like to state that lenders are considering a
restructuring plan under RBI framework for resolution of stressed assets that would ensure a long-term viability of company," state-owned
bank said in a statement.Statements from Jet and its biggest lender SBI come after media reported on Wednesday that Etihad had offered to
buy Jet shares at a 49 per cent discount and immediately release $35 million to bail out troubled carrier, citing a letter to SBI from Abu
Dhabi airline's CEO Tony Douglas.Jet's shares were down 3.7 per cent on Thursday morning, having plunged over 8 per cent in previous
session after report.Etihad also wants Jet's founder and Chairman Naresh Goyal to step down from board and his stake to be slashed to 22
per cent from 51 per cent, media reported.However, civil aviation secretary, R N Choubey, told reporters on sidelines of a conference on
Wednesday that control of Jet would need to remain in domestic hands.
