State Bank of India poised to control 15% in debt-laden Jet Airways

Jet Airways, the carrier that is struggling under a pile of debt, may get some respite.
 
India’s largest lender State Bank of India (SBI) is set to swap part of its loans into a stake of at least 15 per cent in Jet, people with knowledge of the matter said. Other creditors to the carrier also plan similar conversions of some debt into equity to help keep the carrier alive, they said.
 
Under a new rescue proposal for India’s biggest full-service airline, founder Chairman Naresh Goyal’s stake would fall below 20 per cent from 51 per cent currently,