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Jet Airways lenders to create independent trust for stake of Goyal, Etihad

The thrust is on transferring equity, trust structure and the call option (the right but not the obligation to buy), and paying the proceeds upfront

Jet Airways
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Abhijit LeleSurajeet Dasgupta Mumbai/New Delhi
Lenders to cash-strapped Jet Airways are looking at creating an independent trust to transfer the shareholding of the erstwhile promoter Naresh Goyal and Etihad Airways to ensure a smooth stake sale.

The thrust is on transferring equity, trust structure and the call option (the right but not the obligation to buy), and paying the proceeds upfront. This is to give comfort to a new investor who wants to run the company without the former shareholders and promoters.

The plan takes into consideration that there will be two investors as partners. This is seen to be necessary to address the 49

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First Published: Mar 31 2019 | 9:32 PM IST

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