Lenders, other stakeholders working on resolution plan; no decision yet: Jet Airways

Crisis-hit Jet Airways Wednesday said discussions are "progressing well" with stakeholders on a comprehensive resolution plan that also contemplates equity infusion and consequent changes in its board of directors.

Amid concerns over Jet Airways' financial position and battering of shares on the stock exchanges, the airline said it continues to ensure that the safety and operations are not impacted.

On Wednesday, the civil aviation ministry expressed hope that the airline, its strategic partner Etihad and lenders reach a "common plan" to deal with the situation.

Sources said Jet Airways officials held a meeting with lenders. Specific details about the meeting could not be immediately ascertained.

In an unusual move, the airline issued two statements on Wednesday, saying that it has been working on various cost cutting measures, debt reduction and funding options.

The full service carrier, which has been grappling with financial woes, defaulted on loan repayment to a consortium of ...