Cash Strapped Carrier
Cash Strapped Carrier News
SBI set to own 15% of Jet Airways after debt for equity swap move; airline’s shares decline over 2%
Jet Airways said on Monday it would seek a shareholder nod next month to convert existing debt into equity, raise more money and allow its lenders to nominate a director on its board as part of efforts to resolve its financing problems.
Mallya says nearing $370mn deal to save airline: report
Mallya said he was nearing a deal with 14 banks led by State Bank of India that would provide the loss-making carrier with working capital of $118 million. He did not name the banks.