Lifeline for Jet Airways only after promoters put in Rs 750 crore

According to banking sources, lenders do not want to be majority shareholders in Jet Airways. They have therefore agreed to a debt conversion and to hold equity up to 49% of the airline. Lenders other than SBI and PNB will bring in an additional Rs 1,000 crore as part of this plan. This is subject to the airline promoters (Naresh Goyal and Etihad Airlines) bringing in Rs 750 crore promoter contribution.

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