Other demands may include halving of workforce, conversion of debt to equity
South American conglomerate Synergy Group may ask for a 60-80 percent haircut from the lenders of Jet Airways as a pre-condition to pick up an equity stake in the stressed airline. The company may also ask the lenders to convert 10-20 percent of their total debt into equity.
Further, there could be a demand for downsizing the workforce from the current 14,000 to 7,000 employees to revive the airline.
Speaking to BusinessLine, Antonio Guizzetti, President of G&A Consultancy, said Synergy Group may sign a nondisclosure agreement with the lenders as early as this week as a first step. This will give the investor access to the Jet data room. Guizzetti is advising Synergy Aerospace on the Jet transaction.
Denne historien er fra August 30, 2019-utgaven av The Hindu Business Line.
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Denne historien er fra August 30, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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