Banks propose $900 mn revival plan for Jet Airways: Reports
Jet Airways' lenders, led by State Bank of India, have reportedly proposed a $900-million turnaround plan for the cash-strapped airline. Chairman Naresh Goyal and second-largest shareholder Etihad may infuse a total of $450 million, while lenders will restructure another $450 million of its debt, reports added. The revival plan may reduce Goyal's stake in the airline to below 51%.