Banks get ready to put in extra money in debt-laden Jet Airways

Etihad Airways keen to sell stake to banks at discounted price

A day after Etihad walked out of the prolonged bank-led resolution plan for Jet Airways, lenders got into action to chalk out a plan B. Senior bank executives worked the phones and logged on to video-conferencing in a move to rescue Jet, which has a debt pile of about Rs 8,000 crore and is left with just half of its original fleet due to non-payment of dues to lessors.

Switching to a damage-control mode, bankers and government officials claimed that Jet Airways wouldn’t fall even if Etihad refuses to back the resolution plan and exits. Instead, lenders would infuse additional funds