A consortium of lenders led by the State Bank of India (SBI) should reach a final resolution plan to rescue embattled Jet AirwaysNSE -1.11 % in the next one week, an SBINSE 2.23 % official said on Friday.
Grappling with a debt of more than $1 billion, Jet has delayed payments to banks, lessors, vendors and staff. Lessors have grounded more than three dozen planes, forcing hundreds of flights to be cancelled.
All the lenders are working towards a resolution with the “desire that this airline keeps running”, the official said, declining to be named as the matter was sensitive.
