Naresh Goyal to shed stake to 17% in Jet bailout plan; lenders to hold 30%

Etihad board to take up resolution deal tomorrow

Jet Airways’ rescue plan, which will be taken up for approval by the board of Etihad Airways on Monday, will see a major rejig in the promoters’ shareholding. According to the finalised resolution plan, Jet Founder and Chairman Naresh Goyal’s stake will come down to 17 per cent from the current 51 per cent, sources in the know said. As sought by Jet’s joint venture partner Etihad, Goyal will step down from the board.

Etihad will own 24.9 per cent in Jet, marginally up from its 24 per cent stake now. The consortium of lenders, led by State Bank of India