Jet Airways has stated that it is refinancing a $300 million Indian rupee loan, with a $150 million loan from the ECB and $150 million loan from a Middle East financial institution, according to Ravishankar Gopalakrishnan, chief financial officer and acting chief executive officer, during a conference call with investors.
“With the support of Etihad Airways’ bankers, we have got sanction for $150 million ECB and documentation of the same is in the process. Separately, we have got sanction from a bank from Middle East for another $150 million,” Gopalakrishnan said.
Gopalakrishnan said Jet Airways had reduced its debt from Rs.12,494.70 crore in September to Rs.10,895.20 crore in December.