FE Today Logo

Aviation

Etihad, Jet Airways in talks on rescue deal

December 07, 2018 00:00:00


NEW DELHI, Dec 05 (Reuters): Etihad Airways is holding talks with Jet Airways Ltd and its bankers on a rescue plan for the debt-laden Indian carrier, two sources aware of the matter told Reuters.

Executives from Etihad and Jet have met some of the airline's bankers in Mumbai in recent days to discuss ways to address its cash flow issues and evaluate the carrier's future business plan, the sources said.

Etihad, which owns 24 per cent stake in Jet Airways, is also considering investing fresh funds in the airline if it can agree on the structure, one of the sources said, adding that no deal has been finalised.

The sources did not want to be named as the discussions are private.

Jet, which is India's biggest full service carrier by market share, is in desperate need of cash. The 25-year-old airline, founded by Naresh Goyal, owes money to lessors and vendors, has delayed salary payments to pilots and senior executives and is cutting flights on non-profitable routes to save money.


Share if you like



COMPANY YCP HIGH LOW CLOSE %CHG
CAPMIBBLMF 10.7 11.7 10.9 11.7 9.3458%
GQBALLPEN 73.1 80.4 74.0 79.9 9.3023%
JMISMDL 218.4 237.5 213.0 236.8 8.4249%
NTC 879.2 945.1 895.0 945.1 7.4955%
KOHINOOR 381.8 415.2 382.3 409.2 7.1765%
DSHGARME 226.5 245.0 228.0 242.6 7.1082%
ICBAMCL2ND 6.2 6.7 6.3 6.6 6.4516%
APEXFOODS 166.8 177.8 168.0 177.2 6.235%
CAPMBDBLMF 6.6 7.0 6.6 7.0 6.0606%
USMANIAGL 106.0 114.1 107.0 112.3 5.9434%
COMPANY YCP HIGH LOW CLOSE %CHG
GQBALLPEN 80.4 80.4 74.0 74.0 8.6486%
CAPMIBBLMF 11.7 11.7 10.9 10.9 7.3394%
CAPMBDBLMF 7.0 7.0 6.6 6.6 6.0606%
APEXTANRY 143.5 144.0 135.8 135.8 5.6701%
APEXFOODS 177.6 177.8 168.0 168.1 5.6514%
APEXSPINN 139.0 139.3 129.7 131.6 5.6231%
NTC 945.0 945.1 895.0 895.0 5.5866%
USMANIAGL 112.3 114.1 107.0 107.0 4.9533%
KOHINOOR 405.3 415.2 382.3 386.9 4.7558%
IBNSINA 255.0 256.8 245.3 245.3 3.9543%
COMPANY YCP HIGH LOW CLOSE %CHG
ISNLTD 43.0 38.7 38.7 38.7 -10%
MLDYEING 44.2 44.5 39.8 39.8 -9.9548%
BIFC 5.5 5.4 5.0 5.0 -9.0909%
IBP 41.0 41.7 36.9 37.3 -9.0244%
SONARGAON 23.6 23.6 21.3 21.5 -8.8983%
SAIHAMTEX 59.9 60.9 54.9 55.5 -7.3456%
STANCERAM 156.8 161.0 145.0 146.3 -6.6964%
KPCL 61.8 62.4 56.7 57.7 -6.6343%
SILVAPHL 35.1 35.7 31.9 32.8 -6.5527%
KTL 31.1 32.2 28.7 29.2 -6.1093%
COMPANY YCP HIGH LOW CLOSE %CHG
IBP 37.1 41.7 36.9 41.5 -10.6024%
MLDYEING 39.8 44.5 39.8 44.2 -9.9548%
SILVAPHL 31.9 35.7 31.9 35.3 -9.6317%
DAFODILCOM 31.2 34.3 31.2 34.3 -9.0379%
SONARGAON 21.5 23.6 21.3 23.6 -8.8983%
PDL 15.9 17.6 15.8 17.4 -8.6207%
SAIHAMTEX 54.9 60.9 54.9 59.9 -8.3472%
KPCL 57.0 62.4 56.7 62.1 -8.2126%
STANCERAM 148.0 161.0 145.0 161.0 -8.0745%
INTECH 53.4 58.0 53.3 57.8 -7.6125%