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Frontier Airlines announced systemwide discounts and plans to add summer routes.

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Ajay Singh said that internal factors and high costs were among the reasons for its failure.

In an emotionally-charged letter to the 22,000-strong employees, Goyal also said the approval of the debt-recast plan will put the carrier ...

Under the proposed deal, Goyal would step down as chairman and director of Jet Airways but can nominate two persons to the airline's board.

PNB is part of the lenders' consortium, led by State Bank of India (SBI), that has extended loans to the airline.

Jet Airways and Etihad were not immediately available for comment.

Prime Minister Manmohan Singh had said that steps would have to be taken to help the private sector entities if they get into difficulties.