Naresh Goyal seeks Rs 750 crore from Etihad to keep Jet Airways flying

Etihad board discusses bank-led resolution plan for Jet Airways

Jet Airways Founder-Chairman Naresh Goyal, in a communication to Etihad group Chief Executive Officer Tony Douglas, has said the airline is in a “precarious” position, with more than 50 planes grounded. Goyal has sought  Rs 750 crore immediately from Etihad, while raising concerns over “increasing arrears of vendors and salaries’’ at Jet. 

This coincides with Jet Airways informing the exchanges that it has defaulted on part payment of a foreign loan due to liquidity constraints. The part payment was due on external commercial borrowing on March 11. The amount of the default could not be ascertained, but reports suggest that