Jet Airways Bailed Out, Bullish Trends Anticipated in Markets

The Jet board had last Thursday cleared a “bank-led provisional resolution plan” (BLPRP) which will see SBI-led lender banks becoming its largest stakeholder after debt restructuring. Under this plan, Jet will see restructuring to meet a funding gap of nearly Rs 8,500 crore, including proposed repayment of Rs 1,700-crore aircraft debt, through steps like conversion of debt to equity, equity infusion and asset monetisation.

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