Nasim Zaidi, the former Chief Election Commissioner and ex- civil aviation secretary, joined the Jet Airways board in August last year.

Share Market Updates: On the sectoral front, except IT, all of the other sectoral indices are trading in the red. Market has fallen 0.87% while volumes have increased by 22.81%.

According to reports, Jet Airways pilots have been asked to take salary cuts of 25-30 per cent, while engineers have been settling at 50 per cent of their current pay

Etihad Airways, TPG Capital, Indigo Partners, and National Investment and Infrastructure Fund (NIIF) have reportedly shown interest in buying stake in Jet Airways

SBI, the lead lender of the seven-member consortium of domestic banks that have extended loans to the airline, has started the bidding process for stake sale in the carrier and clarity about potential bidders would emerge next month

Jaypee Infratech, a subsidiary of Jaypee group flagship firm Jaiprakash Associates Ltd (JAL), is undergoing insolvency proceedings

Even if the stake sale does not go through and the grounded Jet Airways gets dragged to bankruptcy court, experts say that its lenders may have to settle for a 50-60% haircut. 

It is theoretically possible for (defaulting) promoters to challenge proceedings under banned February 12 circular if the same had been admitted by the NCLT

According to the notice, financial creditors will not only receive the entire principal amount but also a significant part of interest

Jet Airways crisis: The crumbling airline is down to just five operating planes but its lenders are yet to agree to release interim funding.

Goyal's expression of interest in regaining the control of the airline is yet to be legally scrutinised by the lenders, but his interest leads to three disparate possibilities

SBI chairman Rajnish Kumar has already made it clear that \"nobody is barred from bidding or taking over the airline\" as per the rules.

Can India's premier airline be rescued?