Banks’ consortium considering Rs 500 crore interim funding to Jet Airways, says PNB chief
NEW DELHI: A consortium of banks is considering an interim funding of Rs 500 crore for debt-laden Jet Airways but a final decision is yet to be taken, Punjab National Bank 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.
