In a statement, the airline said a resolution plan that contemplates various options, including a proportion of equity infusion by various stakeholders and the consequent change in the company's board, is being worked out.
Speaking to the media at the Global Aviation Summit 2019, organised jointly by the civil aviation ministry, the Airports Authority of India and Ficci, the minister also emphasised on carrying out of maintenance, repair and overhaul (MRO) work domestically.
Etihad is in talks to lift its holding from the current 24 per cent. CNBC-TV18 said that Jet founder Naresh Goyal’s stake could drop to 20 per cent from 51 per cent and that he will stand down as chairman.
In May last year, the Directorate General of Civil Aviation issued amendments to rules for licensing of foreign pilots by domestic airlines, and as per the norms, the regulator asks the air operators to state the number of expatriate pilots phased out by them.