The pilots union of Jet Airways had on Tuesday threatened to stop flying from April 1 if a complete clarity on the resolution plan is not brought to their notice by March 31.
The MG Hector SUV will be based on the China- spec Baojun 530.
Etihad Airways had purchased its stake in Jet Airways in April 2013, paying around $379 million for it.
Etihad’s decision was conveyed by its CEO Tony Douglas to SBI chief Rajnish Kumar in a meeting on Monday.
At the end of the meeting, the crisis seemed to have deepened as Etihad, which holds 24 per cent in Jet, refused to agree on the contours of the deal.
On Jan. 1, Jet Airways informed stock exchanges that it had defaulted on debt repayment to its consortium of lenders.
AI Express swapped places with IndiGo and became the fifth biggest player.
Goyal’s stake will drop to around 22 per cent while NIIF will get about 20 per cent in the troubled full service airline
GMR Airports (GAL), the company’s subsidiary has received the formal letter of award (LoA) from MIHAN India.