It is being widely reported that Jet Airways has agreed to most of the conditions set by shareholder Etihad Airways for a new memorandum of understanding (MoU) to save the troubled carrier. If finalised, the deal would boost Etihad’s stake from 24% to 40%, reducing chairman Naresh Goyal’s stake from 51% to 22%, while the lenders would convert some of their debt to equity, giving them the remaining stake in the airline, about 30%. In January, Jet Airways said in a statement that it was working on “various cost cutting measures, debt reduction and funding options including infusion of capital,

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