A provisional management committee is to form to supervise operations under the rescue plan, where Jet’s lenders will issue a loan of Rs. 1,500 crore to meet the airline’s obligations.
Jet Airways Ltd shares today rose to 9 per cent to Rs. 277 on BSE to a nearly two-month high after founder and chairman Naresh Goyal stepped down with his wife and lenders took control of the airline, to rescue it from bankruptcy. Jet is struggling to stay on board, burdened with more than $1 billion of debt. Jet has delayed payments to banks, lessors, pilots, and suppliers of which, some have forced the airline to ground as many as 40 planes.
On Monday, Jet shares climbed 17.5 per cent in intraday trade after reports said Naresh and his wife would leave the board. This can be a good change for the company which needs funds to pay-off outstanding dues. 
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