Jet Airways seeks $350 mn soft loan from Etihad

December 06, 2018 16:29

Cash crunched Jet Airways has sought a soft financing of USD 350 million from its investment partner Etihad Airways, as it continues to hold discussions with the latter to offload additional stake in the carrier, an airline source said Thursday.

The Abu Dhabi-based Etihad had come to the rescue of the Naresh Goyal-controlled airline during the earlier downturn too. In 2013, it had acquired 24 per cent stake in Jet Airways for Rs 2,060 crore, besides extending low-interest loan of USD 150 million as well as purchasing 50.1 per cent stake in its loyalty programme JetPrivilege.

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