The consortium of banks, led by State Bank of India (SBI), expects clarity to emerge on final resolution of debt-laden Jet Airways in a week’s time.
A senior SBI official said lenders are keen that the airline continues to be operational. Towards this end, a comprehensive resolution plan is being put together.
The financially-stressed airline has loans of more than Rs. 8,400 crore, with SBI being its biggest lender. The exposure of India’s largest bank is said to be close to Rs. 2,000 crore. Due to financial crunch, the private sector carrier has delayed salaries to pilots, senior staff and engineers, including payments to its lessors and lenders for the past several months.
