Why are Jet Airways lenders only going to get 5% of their money? What is the point of the restructuring then?

Yes I must say that the lenders of Jet Airways are going to be an unhappy lot; at least that is what it looks like. They will get just about Rs.380 crore from the Kalrock-Jain consortium against outstanding loans of Rs.7,810 crore, that is just about 5%. Even this 5% will not be paid upfront but in tranches. In lieu of that, lenders will get 9.5% stake in Jet Airways and 7.5% interest in Jet Privilege loyalty program.