New Delhi, March 20 -- The Congress on Wednesday said the government intended to bring a bailout package for the cash-strapped Jet Airways - partly owned by foreign investors - using Indian tax payers' money.
Congress spokesperson Randeep Surjewala told the media that the Modi government had asked public sector banks - State Bank of India (SBI) and Punjab National Bank (PNB) - to waive the debt on the airliner totalling Rs 8,500 crore by taking an equity of Rs 1.
"Naresh Goyal, who is a London-based NRI, owns 51 per cent stakes while Etihad Airways has 24 per cent stake. It means the 75 per cent ownership is with an NRI and a foreign company," said Surjewala.
"Why is the Modi government giving a 'bailout package' to a bankrupt corporate ...