Banks get pilot’s seat in Jet Airways, Naresh Goyal loses control economictimes.indiatimes.com

Jet AirwaysNSE 4.12 % founder promoter Naresh Goyal is set to lose control of his beleaguered airline after the board approved a proposal allowing a consortium of banks to become the largest shareholder. The stake of Goyal, who founded the airline in April 1992, could drop to as low as 20% from 51% now while Etihad Airways — along with a partner — may eventually become the biggest shareholder.