A Jet Airways aircraft is seen at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, March 25, 2019. India's beleaguered airline Jet Airways received an interim funding of 217.6 million U.S. dollars from State Bank of India Monday after its founder Naresh Goyal and his wife stepped down from the board of directors. (Xinhua/Stringer)
MUMBAI, March 25 (Xinhua) -- India's beleaguered airline Jet Airways received an interim funding of 217.6 million U.S. dollars from State Bank of India Monday after its founder Naresh Goyal and his wife stepped down from the board of directors.
The infusion of 217.6 million dollars would address the short-term worries of staff salary and leased planes which were grounded.
"We expect to get new investor by May 31," said Rajnish Kumar, chairman of State Bank of India, one of the major lenders to the airline.
Naresh Goyal's stake is set to come down to about 25 percent while Etihad's holding will fall to 12 percent following approval for resolution plan submitted by the bankers, he said.
