Lenders may invoke Naresh Goyal’s 51% stake in Jet Airways

Bankers are likely to discuss invoking Naresh Goyal’s entire 51 per cent stake in debt-ridden Jet Airways as a last resort, according to a report by ET NOW.

The report also added that Punjab National Bank (PNB) may invoke pledged shares and transfer them to the lenders in proportion to debt exposure to Jet.

“Bankers may also discuss Etihad’s proposal to exit the Indian carrier at Rs 150 per share,” ET NOW reported quoting sources.


Naresh Goyal had earlier pledged his entire 51 per cent stake or 57.93 million shares with PNB.

Meanwhile, the government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Narendra Modi seeks to avert thousands of job losses weeks before a general election, two people within the administration told Reuters.

The report came after market hours. Earlier in the session, the shares of Jet Airways closed 3.35 per cent down at Rs 229.05, while Sensex gained 0.70 per cent to 38,363.47.