https:\/\/www.icra.in\/Rationale\/ShowRationaleReport\/?Id=75657<\/a> Jet rating yet again<\/p>\n\n\n\nDec 14 – Goyal’s penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters<\/p>\n\n\n\n
Jan 2, 2019 – The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again<\/p>\n\n\n\n
Jan 10 – Jet proposes to creditors that it will catch up with debt payments in arrears by September, and from April will meet debt payments as they come due, according to a document seen by Reuters<\/p>\n\n\n\n
Jan 11 – Some aircraft lessors were prompted to explore taking back aircraft from Jet, people familiar with the matter told Reuters. Etihad is not “in any position to sink new equity into Jet at this juncture”, says a person familiar with Etihad’s position.<\/p>\n\n\n\n
Jan 14 – Report states Goyal is likely to step down from the board and give up majority control<\/p>\n\n\n\n
Jan 16 – TV channel reports that Etihad offered to buy Jet shares at a 49 percent discount and immediately release $35 million.<\/p>\n\n\n\n
Jan 17 – Top creditor SBI says Jet’s lenders are considering a plan to resolve its debt issues, amid further reports that Goyal is willing to invest 7 billion rupees in the airline and pledge all his shares but wants to retain a 25 percent stake.<\/p>\n\n\n\n
Jan 24 – India capital markets regulator says it has no “view” on relaxing norms for a Jet bailout<\/p>\n\n\n\n
Jan 25 – Etihad appoints Alvarez & Marsal to conduct due diligence on Jet, sources tell Reuters<\/p>\n\n\n\n
Jan 30 – Jet denies its aircraft had been grounded by GE Capital Aviation Services<\/p>\n\n\n\n
Feb 1 – Jet agrees to most conditions set by Etihad Airways for a lifeline, a report says<\/p>\n\n\n\n
Feb 8 – Airline grounds four aircraft after failing to make payments to lessors<\/p>\n\n\n\n
Feb 14 – Jet’s board approves a rescue deal which will make its lenders its largest shareholders and fix a near 85 billion rupee funding gap<\/p>\n\n\n\n
Feb 15 – Jet is seeking an $840 million bailout from shareholders and a state-backed fund, Business Television India reports<\/p>\n\n\n\n
Feb 21 – International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources tell Reuters<\/p>\n\n\n\n
($1 = 71.2325 Indian rupees)<\/p>\n\n\n\n
(Compiled by Arnab Paul and Chris Thomas in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)<\/p>\n\n\n\nIndia’s Jet Airways Ltd has approved a rescue deal by the lenders of the carrier reeling under a net debt of 72.99 billion rupees ($1.02 billion), but doubts linger over whether the bailout would help it clear dues on time.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[797,89,2203,1397,868,1103],"tags":[539,464,625,160,887,2390,1925,447,2495,246,442,337,2990,745,805,710,743,589,3502,3142,1493,540,2993,2991,412,2992,3017,1288,987,2268,3503,1634,1491,2989,1301],"class_list":["post-3820","post","type-post","status-publish","format-standard","hentry","category-airline-news","category-aviation-news","category-finance-news","category-stock-news","category-transportation-news","category-travel-news","tag-air","tag-aircraft","tag-airways","tag-aviation","tag-bank","tag-capital","tag-carrier","tag-deal","tag-debt","tag-delta","tag-etihad","tag-ge","tag-goyal","tag-group","tag-india","tag-indigo","tag-interglobe","tag-jet","tag-lenders","tag-lessors","tag-limited","tag-lines","tag-mathai","tag-naresh","tag-news","tag-ranjan","tag-rescue","tag-reuters","tag-services","tag-shareholder","tag-sons","tag-state","tag-tata","tag-tpg","tag-vistara"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3820"}],"version-history":[{"count":3,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3820\/revisions"}],"predecessor-version":[{"id":3824,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3820\/revisions\/3824"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"\"](\"https:\/\/i1.wp.com\/planesintheair.com\/wp-content\/uploads\/2019\/02\/Jet-Airways.jpg?fit=640%2C426\")
<\/figure>\n","protected":false},"excerpt":{"rendered":"