India’s Jet Airways is seeking approval of a restructuring plan that will see a consortium of creditor banks become the airline’s majority owner. Jet’s board said it has approved a “bank-led provisional resolution plan.” This restructuring strategy will address a “funding gap” of nearly 85 billion rupees ($1.2 billion), the airline said. The gap “will be met with an appropriate mix” of equity infusion, debt restructuring, and the sale, ...

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