A consortium of banks is considering an interim funding of Rs 500 crore for debt-laden Jet AirwaysNSE 0.68 % but a final decision is yet to be taken, Punjab National BankNSE 0.07 % Managing Director Sunil Mehta said on Friday. PNB is part of the lenders’ consortium, led by State Bank of India (SBI), that has extended loans to the airline.
The full service carrier is looking to raise funds and restructure its debt.
Regarding Jet Airways, Mehta said the consortium is looking at the entire process and something is being worked out.
“Of course, (the) consortium is in favour (of interim funding). It is a going concern and we would like to preserve its (airline’s) value,” he said.
