Etihad conditions may delay debt-laden Jet Airways resolution plan

On February 21, the airline's shareholders approved five enabling resolutions to convert its debt into equity

Etihad Airways is learnt to have abstained from voting on several resolutions to convert Jet Airways’ debt into equity in the EGM the Naresh Goyal-led airline held last Thursday. Etihad has laid down stiff conditions for backing the resolution, a move that could delay the deal to bail out Jet. A delay in resolution will further squeeze Jet Airways, which is negotiating interim funding from banks.

The lenders’ consortium is considering a Rs 500-crore loan, but a final decision is yet to be taken, Punjab National Bank Managing Director Sunil Mehta had said on Friday.

However, the