Goyal ready to refuel Jet with Rs 700 cr

New Delhi, January 17 

Jet Airways’ chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25%.

In a letter to SBI chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan under discussion and in view of Etihad’s position, “despite the significant cash crunch and imminent grounding, which the airline is facing”.

Goyal said he is committed to an “infusion of funds into the company to the extent of Rs 700 crore” and pledging all his shares, subject to the condition that his shareholding post such infusion is at least 25%, he said. — PTI

Revival plan 

• The offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions for infusing funds into carrier
• Naresh Goyal has told State Bank of India that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25%