INSUBCONTINENT EXCLUSIVE:
continue, Union Minister Suresh Prabhu said in an interview.The government's stand assumes significance as lenders negotiate with key
stakeholders of the airline to take forward the proposal to convert a part of the company's loans into shares and iron out differences
responsible for the safe operations of the airline and to monitor, if the substantial ownership and effective control norms are being
consortium of lenders is negotiating with key stakeholders of the airline to take the proposal -- Bank-led Provisional Resolution Plan --
1,700 crore) to be met by appropriate mix of equity infusion, debt restructuring, sale or sale and leaseback or refinancing of aircraft,
airline's Board has agreed to allot 11.4 crore shares at an aggregate value of Re 1 to the lenders' consortium led by the State Bank of
and installments on loan repayments due to banks, following which rating agency ICRA downgraded both short and long-term credit facilities
