Business

Etihad Tries To Formulate Rescue Deal For India’s Crisis Hit Jet Airways

The airline is also working to reduce airport and support staff with fewer flights on some routes. The company has also delayed the delivery of at-least two aircraft to next year from November-December (Photo: Nasir Kachroo/NurPhoto via Getty Images).

By: Radhakrishna N S

In an attempt to rescue debt-ridden India’s air carrier, Jet Airways, Abu Dubai-based Etihad Airways is in discussions with the airline and its lenders to formulate a rescue plan, according to the media reports on Wednesday (5). The officials from Etihad, a 24 per cent shareholder in the Indian carrier have met some of the bankers in Mumbai recently to discuss the steps to address the cash crunch being faced by the company and to prepare a road-map for the future of the airline, Reuters quoted two sources as saying. A meeting between, Etihad, Jet Airways and, Indian lender SBI,…

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