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SBI, other lenders & stakeholders working on resolution plan: Jet Airways

The airline also said the resolution plan is presently under active discussion amongst the stakeholders and that the various options are yet to be crystallised

Press Trust of India  |  New Delhi 

jet airways

Crisis-hit Wednesday said along with other lenders and stakeholders is working on a comprehensive resolution plan to turnaround the airline.

The full service carrier, which has been grappling with financial woes, defaulted on loan repayment to a consortium of Indian banks led by (SBI) on December 31, 2018.

In a statement, the airline said a resolution plan that contemplates various options, including proportion of equity infusion by various stakeholders and the consequent change in the company's board, is being worked out.

"in consultation with the other members of the consortium and the other stakeholders has been working on a comprehensive resolution plan towards a turnaround of the company for its sustained growth and restoration of financial health," said.

The airline also said the resolution plan is presently under active discussion amongst the stakeholders and that the various options are yet to be crystallised and agreed to by the stakeholders in the best interests of the company.

First Published: Wed, January 16 2019. 15:55 IST
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