Jet Airways' investors are cheering this week's government-led rescue ...
Indian conglomerate Tata Sons had been in talks to invest in Jet on the condition that Goyal would step down, or take a less prominent role, sources told Reuters in November. While the rescue deal could put Tata back in the race, Goyal’s trimmed stake may still be a problem.
State Bank of India Chairman Rajnish Kumar has said Goyal would not pose a problem for any incoming investor but also said that the former chairman would be allowed to bid for the banks’ shares when they are auctioned, leaving a window open for the founder to come back.In a fresh sign of its weak financial situation, just days after the bailout, Jet told the Indian stock exchange on Thursday that it had defaulted on an overseas loan due to “temporary liquidity constraints”.
Several Jet pilots, who have not been paid for months, have switched airlines, and rival carriers like SpiceJet have been in talks with Jet’s lessors to take some of its grounded planes on lease, a source has told Reuters.
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