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Etihad puts riders for fund infusion, Jet revival an uphill task

Jet Airways stopped operations on April 17 due to acute financial distress

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Attaching too many riders for infusing funds into grounded Jet Airways, the Abu Dhabi-based Etihad has put the onus of reviving the airline on lenders led by State Bank of India (SBI).

Besides offering a meagre fund infusion of Rs 1,700 crore, the Gulf carrier wants the lenders to find a majority buyer and exemption from making an open offer in case its stake breaches 26 per cent mark. Etihad also wants a one-time settlement by banks with operational creditors.

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