Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
For debt-laden Jet Airways, bitter foe Tata may turn into timely saviour.
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