Jet has survived a near-death experience once before; in 2013, Abu Dhabi's Etihad Airways injected $600 million of capital for a 24 percent stake in the airline, three London Heathrow slots and a majority share in Jet's frequent flyer programme. Afterwards one of the two Etihad nominees will exit the Jet board, the ET report said.
The lenders will nominate two directors to the Jet board and will shortly initiate an auction process to find a new strategic investor for the company.
It has formed an Interim Management Committee (IMC) to oversee the financial and operational performance of the airline under the supervision of the board of directors with the support of McKinsey & Co.
In the exchange filing, Jet Airways said the company would receive immediate funding of up to Rs 1,500 crore from its lenders.
Jet Airways share price has been gaining for the last two days and has risen 6.93% during the period.
It is likely that the lenders will take over more than 50 per cent of the airline's stake.
Deepika Padukone rewards Ranveer Singh with kiss, here's why
Together, Deepika and director Meghna Gulzar have raised everyone's expectations after releasing this still from the film. Deepika said, "I will be meeting some of these girls in the coming weeks and be working closely with them".
Laura Ingraham mocks Alexandria Ocasio-Cortez's pronunciation of her name
She told off the network with her comment on the fact that her name was "not "Cortez" in the same way that "theirs isn't "Ingra". That's my name. "For the curious, in Latinx culture children take *both* their parents" names", she explained in another post.
Samsung Galaxy A10 And A20 Pass SIRIM Certification; Malaysian Launch Seems Likely
Let's not forget that, in addition to the three 4G Galaxy S10 phones, Samsung also introduced a Galaxy S10 5G phone last month. It offers decent specs, a pleasant design, and has four - yes four ! - rear cameras, to capture every important moment.
Jet Airways, which is saddled with over $1 billion in debt, has grounded almost 40 planes because of non-payment of dues in the past few weeks.
Jet's moneylenders consortium may invoke the complete 51 per cent stake of Naresh Goyal within the airline, and begin searching for a new buyer within the coming weeks.
Shares of Jet Airways jumped over 15 percent on the BSE to end at Rs 260.
He had headed the national carrier from August 2017 to September 2017 before being moved to the Railway Board as the chairman, from where he retired in December 2018.
The airline has not paid salaries to a section of its employees, including pilots.
Joint venture partner Eithad's stake will be brought down to 12 percent from 25 percent and Naresh Goyal will now hold 25 percent, Kumar said.