Board approval to crisis-hit Jet Airways management change today

Team of I-bankers, advisors helping bank consortium in rescue deal

The lenders to Jet Airways worked through the weekend to finalise the details of a new resolution plan to rescue the failing airline. That includes an emergency funding of at least Rs 1,500 crore. The plan prepared by the lenders’ consortium, led by the State Bank of India, will be discussed at the Jet board meeting scheduled for Monday, according to sources in the know. It is learnt that a change in the Jet management, including a new board chairman, could be executed immediately after the board approvals. 

Investment banking firm Arpwood Capital is helping the lenders’ group in the