Air France-KLM and Delta need to hold back as Jet Airways crumbles

Jet Airways has two months of cash remaining and is grounding a further section of the fleet and selling off a swathe of aircraft. Naresh Goyal, the promoter of Jet Airways, is desperately trying to sell part or all of his of his 51% holding in Jet Airways in order to keep working capital above emergency levels and see the airline though the next two months of restructuring prior to a possible working capital loan from the banks. Goyal hopes that buyers for a 20% stake can be found through a new issue, but as the airline shares have fallen