Under the resolution plan, the stake of Naresh Goyal, the chairman of Jet, is expected to fall from 51% (as on December 2018) to about 20%.

The Bank Led Resolution Plan (BLRP) by lenders estimated a funding gap of Rs 8,500 crore (including proposed repayment of aircraft debt of Rs 1,700 crore) to be met by appropriate mix of equity infusion, debt restructuring, sale and lease back of aircraft, among other things.

While the airline claims that it is adjusting its flight schedule to stabilize operations after the chaos caused by the recent Delhi hailstorm, the buzz is that pilot and crew shortage is actually to blame. 

Goyal had last week rejected the Etihad proposal to buy an additional stake in Jet Airways for Rs 150 apiece.

Goyal said he was ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent. Etihad reportedly put forward strict conditions yesterday, including that Goyal should give up control, for infusing funds into the crisis-hit carrier.

The stock had gained over 22% in the last two sessions amid hopes that lenders would come up with a comprehensive plan to deal with its crippling debt crisis.

The airline stock which hit an intra day and a 52-week high of 876.50 on January 8, 2018 has nosedived to 246 level during the period.  On January 8 last year, the stock closed at 865.40 level.

The Naresh Goyal-controlled Jet airline, which is part owned by Gulf carrier Etihad, has not been paying on time to about 15 per cent of its over 16,000 employees since August last year due to a liquidity crunch.

Analysts say Jet Airways needs to raise at least $250-300 million immediately to pay off its dues to lenders and vendors.

Of 30 Sensex stocks, 24 were trading in the red. TCS (1.08%), Sun Pharma (0.72%), Infosys (0.68%) and ICICI Bank (0.36%) were the top Sensex gainers.

The payment of interest and principal instalment was delayed \"due to temporary cash flow mismatch\" and the company is in talks with the consortium

Jet Airways strategic partner and Middle-east carrier Etihad, which holds 24 per cent stake in the Indian full-service carrier, is likely to provide a guarantee for the loan

As part of this exercise, various aspects of the airline's functioning, including aircraft maintenance, are being looked at from the safety point of view, a DGCA official said.