Banks will evaluate the funding needs of Jet Airways amid the ongoing process of finding an investor for the crisis-hit airline.
The airline has reportedly initiated discussion with banks, led by the State Bank of India, for a short-term working capital requirement of around Rs 1,500 crore.
“Some of the lessors have said they are willing to release the planes provided some guarantee is being issued to them. We need to evaluate that. Money will be released against the benchmark with the sole intent of ensuring that the airline does not get grounded while the process of finding an investor is being completed,” Arijit Basu, managing director of the SBI, said on the sidelines of the launch of an SBI wealth hub at the Chowringhee branch on Friday.
