Jet seeks $350 m loan from Etihad

MUMBAI: Cash-crunched Jet Airways has sought a soft financing of $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 on 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. “Jet Airways has sought $350 million soft loan from Etihad even as its discussions with the the Gulf carrier continue for selling additional stake,” the source privy to development said. PTI